Reserve Bank of Australia: Prioritizes Wholesale Central Bank Digital Currency
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September 17, 2024
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On September 18, the Reserve Bank of Australia (RBA) Deputy Governor, Michele Bullock, announced the launch of an industry project on wholesale central bank digital currencies (CBDCs) and tokenized commercial bank deposits. This project marks the beginning of a three-year research program on digital currencies.
The RBA will prioritize a wholesale CBDC, as it offers greater economic benefits compared to a retail CBDC. The introduction of a retail CBDC would be decided by the Australian government and would require legislation. (Gold Ten)
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