Tokenised Money at Scale: Japan’s Blueprint for Multi-Bank Payment Networks

As digital money matures, the conversation is moving beyond early stablecoin adoption toward regulated, bank-issued tokenised deposits designed for real-world economic infrastructure.

This session explores the global shift in tokenised money — from crypto-driven convenience to sovereign, institutional-grade payment networks capable of supporting 24/7 programmable transactions. We examine why governments and financial institutions are reassessing monetary sovereignty, liquidity safety, and regulatory trust in the era of digital dollarisation.

Using Japan as a case study, the session highlights how early regulatory clarity and public-private coordination have enabled the development of a multi-bank, two-layered tokenised deposit architecture. We discuss the infrastructure requirements for scaling tokenised money — including interoperability, ecosystem design, and cross-border orchestration — and what this means for the future of payments across Asia.