Reserve Bank of Australia: Will prioritize wholesale CBDC
Assistant Governor Jones of the Reserve Bank of Australia (RBA) stated that they will initiate an industry project on central bank digital currency (CBDC) at the wholesale level and tokenized commercial bank deposits. The project is dedicated to a three-year research on digital currency. We will give priority to wholesale CBDC. Wholesale CBDC offers greater economic benefits compared to retail CBDC. The launch of retail CBDC will be determined by the government and will require legislation
On September 18, Jones, Assistant Chairman of the Reserve Bank of Australia, announced that they will initiate an industry project on central bank digital currency (CBDC) and tokenized commercial bank deposits at the wholesale level. The project is dedicated to a three-year research on digital currency. We will give priority to wholesale central bank digital currency. Wholesale CBDC offers greater economic benefits compared to retail CBDC. The launch of retail CBDC will be determined by the government and will require legislation