PANews, September 18: According to Coindesk, the Reserve Bank of Australia (RBA) (the central bank) and the Treasury Department have released a report summarizing its research on a central bank digital currency (CBDC) so far, and how this research informs the RBA and Treasury's ongoing evaluation of a CBDC for Australia. The report also outlines a three-year roadmap for future digital currency work in Australia.

The RBA has indicated it will prioritize work on a wholesale CBDC rather than a retail version. In a statement, Brad Jones, Assistant Governor of Financial System at the RBA, noted that a wholesale CBDC presents greater potential benefits and fewer challenges compared to a retail CBDC. A wholesale CBDC is a digital token issued by the central bank for use by banks and financial institutions, while a retail CBDC is aimed at consumers and everyday transactions.