Australian Central Bank Initiates Wholesale CBDC and Tokenized Deposits Project

According to BlockBeats, on September 18, the Assistant Governor of the Reserve Bank of Australia, Jones, announced the commencement of an industry project focusing on wholesale central bank digital currency (CBDC) and tokenized commercial bank deposits. This initiative is part of a three-year digital currency research project. The Reserve Bank of Australia will prioritize wholesale CBDC due to its greater economic benefits compared to retail CBDC. The introduction of retail CBDC will be determined by the Australian government and will require legislative approval.