Forex News

Australia’s central bank launches digital currency project

2022.08.09 02:22

Australia's central bank launches digital currency project
FILE PHOTO: A worker is reflected in a wall of the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, March 1, 2016. REUTERS/David Gray

SYDNEY (Reuters) – Australia’s central bank on Tuesday said it was launching a one-year research programme into the case for a central bank digital currency (CBDC) in Australia, focusing on what potential economic benefits it might bring.

The Reserve Bank of Australia (RBA) is partnering with the Digital Finance Cooperative Research Centre (DFCRC), a government-backed industry group, in the program.

The project will seek to identify innovative use cases and business models that could be supported by the issuance of a CBDC, and better understand of some of its technological, legal and regulatory considerations.

It will involve the development of a limited-scale CBDC pilot that will operate in a ring-fenced environment and involve a pilot CBDC that is a real claim on the RBA.

Interested industry participants will be invited to develop specific use cases that demonstrate how a CBDC could be used to provide innovative and value-added payment and settlement services to households and businesses.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 81,990.97 1.97%
ethereum
Ethereum (ETH) $ 1,890.60 0.14%
tether
Tether (USDT) $ 0.999983 0.00%
xrp
XRP (XRP) $ 2.29 2.43%
bnb
BNB (BNB) $ 583.41 0.84%
solana
Solana (SOL) $ 124.61 0.41%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.706505 2.97%
dogecoin
Dogecoin (DOGE) $ 0.168999 0.99%
tron
TRON (TRX) $ 0.225683 1.39%
staked-ether
Lido Staked Ether (STETH) $ 1,887.17 0.12%
lombard-staked-btc
Lombard Staked BTC (LBTC) $ 82,872.20 0.10%
pi-network
Pi Network (PI) $ 1.65 1.42%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 81,728.90 2.21%
leo-token
LEO Token (LEO) $ 9.73 0.16%
chainlink
Chainlink (LINK) $ 13.28 0.24%
stellar
Stellar (XLM) $ 0.273913 2.66%
usds
USDS (USDS) $ 0.999905 0.04%
hedera-hashgraph
Hedera (HBAR) $ 0.190259 3.74%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,258.96 0.14%
avalanche-2
Avalanche (AVAX) $ 18.77 0.91%
shiba-inu
Shiba Inu (SHIB) $ 0.000012 0.58%
the-open-network
Toncoin (TON) $ 2.79 2.48%
sui
Sui (SUI) $ 2.17 4.94%
litecoin
Litecoin (LTC) $ 89.16 1.56%
bitcoin-cash
Bitcoin Cash (BCH) $ 327.80 5.22%
polkadot
Polkadot (DOT) $ 4.03 1.34%
mantra-dao
MANTRA (OM) $ 6.25 3.14%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.02%
weth
WETH (WETH) $ 1,890.18 0.07%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.21%
bitget-token
Bitget Token (BGB) $ 4.19 0.66%
hyperliquid
Hyperliquid (HYPE) $ 12.75 4.12%
whitebit
WhiteBIT Coin (WBT) $ 28.17 1.78%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,005.11 0.21%
monero
Monero (XMR) $ 207.43 1.38%
uniswap
Uniswap (UNI) $ 5.93 0.43%
susds
sUSDS (SUSDS) $ 1.04 0.09%
dai
Dai (DAI) $ 0.999936 0.01%
near
NEAR Protocol (NEAR) $ 2.67 3.82%
aptos
Aptos (APT) $ 5.16 0.70%
pepe
Pepe (PEPE) $ 0.000007 5.72%
ethereum-classic
Ethereum Classic (ETC) $ 18.01 1.00%
internet-computer
Internet Computer (ICP) $ 5.50 0.37%
ondo-finance
Ondo (ONDO) $ 0.83929 2.60%
okb
OKB (OKB) $ 42.11 1.67%
gatechain-token
Gate (GT) $ 20.52 0.83%
aave
Aave (AAVE) $ 166.28 3.53%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 81,962.96 1.90%
mantle
Mantle (MNT) $ 0.730157 2.87%