Bank of Japan will encourage fintech in its future operations, governor Haruhiko Kuroda said. He pointed out to the growing influence of fintech on global payments, settlements and financial services and said the central bank is ready to initiate research to promote Japanese fintech given it has various implications for central banking. He said Bank of Japan is ready to make its best efforts to support the sound development of fintech to enhance the welfare of financial service users as well as economic activities. Japan as a whole is yet to embrace internet finance, despite possessing the world’s third largest economy. It invested a nominal sum of $44 million during the first 9 months of 2015 while China invested $2.7 billion and the US dedicated $7.4 billion.
