Australia Central Bank: CBDC and Project Acacia Explore Wholesale Innovations
Wednesday, 18 September 2024, 01:24
Australia Central Bank's Prioritization of Wholesale CBDC
Australia's central bank, the RBA, is shifting its focus towards the development of a wholesale CBDC instead of a retail variant. The Project Acacia, which spans over three years, aims to investigate the potential of wholesale CBDCs and the integration of tokenized bank deposits.
Key Objectives of Project Acacia
- Assess the benefits of a wholesale CBDC
- Explore the efficiencies of tokenized assets
- Collaborate with industry participants
This progressive move by the RBA underlines a commitment to enhancing Australia's financial infrastructure, making transactions more reliable and efficient.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.