IDEAS home Printed from https://ideas.repec.org/p/boj/bojrev/rev24e09.html
   My bibliography  Save this paper

Deposit Tokenization: Survey of Overseas Initiatives

Author

Listed:
  • Kazutoshi Sugimura

    (Bank of Japan)

  • Masaki Bessho

    (Bank of Japan)

Abstract

Recently, initiatives related to "deposit tokenization" have begun to expand globally. With the emergence of stablecoins, these initiatives seem to seek an extension of functionality in payment and settlement systems by applying new technologies, such as distributed ledger technology (DLT), to bank deposits as a traditional means of payment. The main reason such initiatives prefer leveraging deposit money is said to be its affinity with the two-tier monetary system and possibly with existing laws or regulations. However, there remain some issues that require further clarification on how payments with tokenized deposits are categorized in the private law system, and how smart contracts provide implications for non-functional requirements and legal certainty. Multifaceted discussions on deposit tokenization will therefore continue to be necessary, with an eye toward future payment and settlement systems.

Suggested Citation

  • Kazutoshi Sugimura & Masaki Bessho, 2024. "Deposit Tokenization: Survey of Overseas Initiatives," Bank of Japan Review Series 24-E-9, Bank of Japan.
    • Handle: RePEc:boj:bojrev:rev24e09
    as

    Download full text from publisher

    File URL: https://www.boj.or.jp/en/research/wps_rev/rev_2024/data/rev24e09.pdf
    Download Restriction: no
    ---><---

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:boj:bojrev:rev24e09. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bank of Japan (email available below). General contact details of provider: https://edirc.repec.org/data/bojgvjp.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.