Reserve Bank of Australia: Will prioritize wholesale central bank digital currency

ChainCatcher news, Assistant Governor Jones of the Reserve Bank of Australia stated that an industry project will be launched regarding central bank digital currency (CBDC) at the wholesale level and tokenized commercial bank deposits. This is part of a three-year digital currency research project.

The Reserve Bank of Australia will prioritize wholesale central bank digital currency. Wholesale central bank digital currency has greater economic benefits compared to retail central bank digital currency. The introduction of retail central bank digital currency will be decided by the Australian government and requires legislation. (Jin Ten)