Central Bank of Australia Reveals Use Cases For CBDC

Australia’s Apex bank, the Reserve Bank of Australia has announced that it has selected 14 digital currency proposed use cases for the pilot of its Central Bank Digital Currency (CBDC).

A statement issued in this regard reveals that a wide range of fintech firms operating in the Australian financial system was selected to participate.

Brad Jones, an assistant governor at the RBA, was quoted in the statement as saying “We are delighted with the enthusiastic engagement by industry in this important research project. It has also been encouraging that the use case providers that have been invited to participate in the pilot span a wide range of entities in the Australian financial system, from smaller fintechs to large financial institutions.

Jones added that the pilot as well as the more comprehensive study will be conducted in parallel to “serve two ends.” The first of these ends is helping the industry gain some “hands-on learning” experience. Bolstering policymakers’ understanding of “how a CBDC could potentially benefit the Australian financial system and economy.”

The pilot, scheduled to commence in the coming months will be done in partnership with the Digital Finance Cooperative Research Center (DFCRC).

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

Crypto Investor Falls Victim to $245,000 Scam After Fake a16z Podcast Offer
June 18, 2024By
IMF Calls for Stricter Regulation of Crypto Trading Platforms in Nigeria
June 18, 2024By
Empire Market Owners Charged for Running $430 Million Dark Web Operation
June 16, 2024By

Advertisement

Video Posts

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin65,105 0.07 % 0.75 % 3.35 %
Ethereum3,525.9 0.19 % 2.47 % 0.16 %
Tether0.9997 0.01 % 0.03 % 0.01 %
BNB596.78 0.61 % 1.12 % 2.58 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %
? --- 0.00 % 0.00 %

Please enter CoinGecko Free Api Key to get this plugin works.