Australia’s Central Bank Unveils 3-Year Wholesale CBDC Roadmap
Wednesday, 18 September 2024, 00:58
Australia’s Central Bank's Strategic Focus on Wholesale CBDC
Australia’s Central Bank (RBA) has officially announced a three-year roadmap to develop a wholesale Central Bank Digital Currency (CBDC). This initiative aims to harness the advantages of digital currencies for banks and institutional markets, steering clear of retail options for the time being.
Key Objectives of the Wholesale CBDC Roadmap
- Boost the efficiency of payment systems.
- Strengthen the stability of financial systems.
- Enhance trade financing.
With the global trend toward digital currencies, the RBA is positioning itself at the forefront of this financial transformation, reflecting a significant shift in monetary policy.
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.