Japan Introduces Innovative Yen Banknotes with Advanced 3D Hologram Technology to Combat Counterfeiting
Money | July 4, 2024, 5:34 a.m.
Japan has launched new banknotes with advanced 3D hologram technology to combat counterfeiting, marking the first update in two decades. Prime Minister Fumio Kishida hails the new 10,000, 5,000, and 1,000 yen bills as a historic step in enhancing security and boosting the economy. The notes honor key figures in Japanese capitalism, women's rights, and scientific innovation. Featuring Tokyo Station, wisteria flowers, and Mount Fuji artist Katsushika Hokusai on the reverse, the bills also have enlarged print for easier readability. By March 2023, 7.5 billion new banknotes will circulate, valued at a staggering 1.6 trillion yen ($10 billion) daily. Despite global cashless trends, Japan maintains the significance of cash payments for secure transactions. With distribution through financial institutions, ATMs, and stores, the new bills aim to revitalize economic activity and uphold traditional payment practices.