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The Central Bank of Papua New Guinea (CBPNG) is working with Soramitsu on a central bank digital currency (CBDC) proof-of-concept (POC) aimed at building a common payment platform across the Pacific Island region. Also, some areas of Papua New Guinea are plagued by instability, violence, and frequent occurrences of robberies and muggings, so the POC will explore digital technologies that will allow recovery of funds after such incidents. The project is being funded by the Government of Japan's Ministry of Economy, Trade and Industry's 2023 supplementary budget "Subsidy for Global South Future-Oriented Co-Creation Projects (Indirect Subsidy Project Related to the Survey on the Overseas Deployment of Infrastructure by Japanese Companies)."

The Bank of Papua New Guinea (BPNG) presented the results of its digital kina central bank digital currency (CBDC) proof-of-concept (POC) experimentation. The POC simulated the core functions of a digital currency system and staff from the BPNG, Japan International Cooperation Agency and the Japanese Embassy tested digital payments, and transaction security, under controlled conditions. Further studies will broaden the scope to engage more financial institutions and explore cross-border payments with neighboring countries. https://www.bankpng.gov.pg/central-bank-digital-currency-cbdc-proof-concept