The Reserve Bank of Australia (RBA) (central bank) and the Treasury Department have released a report summarizing their research on central bank digital currency (CBDC) so far, and how this research informs the RBA and Treasury's assessment of a potential Australian CBDC. The RBA has stated that it will prioritize work on a wholesale central bank digital currency rather than a retail version. Wholesale CBDCs offer more significant potential benefits and face fewer challenges compared to retail CBDCs. A wholesale CBDC is a digital token issued by a central bank for use by banks and financial institutions, while a retail CBDC is intended for consumers and everyday transactions. (Coindesk)