© Reuters.

Investing.com – Cryptocurrencies were slightly lower in Asia on Friday after a rather bullish performance earlier in the week. Meanwhile, Japan’s central bank is looking to the implications of central bank digital currencies (CBDCs) for the current monetary system.

On Friday morning, was down 0.31% to $3,951.4 by 11:34 PM ET (4:34 GMT).

lost 1.01% to $146.71, XRP dropped 2.83% to $0.32091, and slid 3.05% to $49.547.

The capitalization of the crypto market hit $135 billion, compared to $120 billion a week earlier.

In Asia, the Bank of Japan (BOJ) released a report saying that it is studying the role of CBDCs, whether they could be assessable to the general public just like banknotes, or they should be limited for large-value settlements.

The BOJ said that “it is needed to assess [CBDCs’] possible impacts not only on payment efficiency but also on financial structure and the overall economy”, but stressed that it “[does] not have an immediate plan to issue digital currencies that can replace banknotes.”

The bank also noted that for token-based CBDCs, it may consider adopting blockchain technology.

The BOJ’s open attitude towards CBDCs is a shift from that of deputy governor Masayoshi Amamiya, who once said central bank-issued digital currencies are unlikely to improve the existing monetary systems.

Elsewhere, Germany-based derivatives exchange Eurex, which is operated by Deutsche Boerse (DE:), was said to be launching futures contracts tied to digital coins such as Bitcoin, Ethereum and .

Deutsche Boerse has been considering digital currency futures since 2017, as its spokesperson said “we are thinking about futures, with which private investors and institutional investors can protect existing investments in Bitcoin or set for falling prices of the cyber currency.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here