Japan proposes common digital currency with Russia for contested Kuril islands

Japan has suggested a common digital currency with Russia as the regional currency in place of the Russian ruble and the Japanese yen at the long-disputed southern Kuril islands.

An economic proposal by Tokyo to Moscow to build bridges between the two countries includes a number of joint economic projects on the Russian-controlled Kuril islands and, notably, a new regional joint digital currency.

The Kuril islands have been the focus of a decades-long dispute between Russia and Japan.