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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.