Bank of Japan Deputy Governor Calls for 'Holistic Approach' to Global Monetary System on Saturday

On Saturday, Ryoji Hyakumori, deputy governor of the Bank of Japan, called for a ‘holistic approach’ to designing the future global monetary system, cautioning against limiting choices to central bank digital currencies (CBDCs) and stablecoins alone. Hyakumori noted that Japan is prepared for both pathways, having launched CBDC pilot projects while also becoming one of the first countries to establish stablecoin legislation. He emphasized that future monetary systems require comprehensive design integrating technological feasibility, social costs, user convenience, financial stability, and monetary policy considerations.