Reserve Bank of Australia Opens Public Consultation on Project Acacia Digital Currency Initiative

MT Newswires Live

2024/11/11

The Reserve Bank of Australia (RBA) opened its public consultation on Project Acacia, which aims to assess the benefits of central bank digital currency (CBDC) for the wholesale market.

In a speech in Sydney on Nov. 8, RBA Assistant Governor Brad Jones said shaping the future of digital money is among the top priorities of the central bank.

"With industry partners, we look forward to exploring how innovations in digital money and infrastructure could increase the efficiency and resilience of wholesale markets where money and assets are tokenized," Jones said.

Last September, the central bank said it will prioritize the development of a wholesale CBDC over its retail counterpart.

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