JAPAN based crypto exchange  DeCurret leads Japan’s three megabanks in a new study group to study the development of a national digital settlement infrastructure Decurret said on June 3 that the group would seek to define a “direction for the realization of valuable digital currencies in Japan.”

Hiromi Yamaoka, Bank of Japan’s former head of payment and processing systems is leading the group.MUFG Bank, Mizuho Bank and Sumitomo Mitsui Banking Corporation are included in the group.The group is scheduled to meet once or twice a month between June and September 2020 and will deliver a report outlining its conclusions at the end of the period.

As a background for the project, Decurret points out the growing expectations on the efficiency and potential of digital currency billing and the interest of companies and some international central banks in distributed general ledger technologies.