Reserve Bank of Australia reveals the approved use cases for its CBDC pilot Australia centralbankdigitalcurrency ReserveBankofAustralia
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
The CBDC research project launched in September as a joint collaboration between the RBA and the Digital Finance Cooperative Research Centre with the goal of demonstrating the capabilities of an eAUD in terms of cost, speed, and quality of outcome. A total of 14 use cases were selected by the central bank – including offline payments, tokenized FX settlement, construction payments, and corporate bond settlement – and the providers chosen to pilot these use cases range from small fintech firms like digi.cash to large financial institutions such as ANZ and Mastercard.“We are delighted with the enthusiastic engagement by industry in this important research project,” said Brad Jones, Assistant Governor at the RBA.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australia exploring CBDC uses cases, reveals central bankThe Australian central bank has announced several projects that will develop use cases for its domestic CBDC. The central bank is expecting to complete its CBDC pilot, which kicked off last August, by mid-2023. The Reserve Bank of Australia (RBA) has announced several projects that will develop use cases for the eAUD, the central bank digital currency […]
Read more »
Ripple is working with more than 20 countries on CBDC plans - Brooks EntwistleRipple executive Brooks Entwistle says the company is focused on helping smaller countries develop CBDCs and is currently working with more than 20 central banks.
Read more »
China’s CBDC initiative gets cold reception from Hong Kong visitorsShenzhen, China’s southeastern metropolis has begun to issue digital yuan hard wallets to Hong Kong tourists, but demand has fallen short of expectations thus far. The goal was to distribute 50,000 digital yuan hard wallets during 22 February- 31 March but as of 26 February, only 625 visitors had taken advantage of the offer. The […]
Read more »
Six crypto firms join Coinbase in ditching troubled Silvergate BankCircle, Paxos, Bitstamp, Gemini, Crypto.com and Galaxy Digital have started to bid goodbye to troubled crypto-focused bank Earlier today, Coinbase announced that it would stop processing payments to Silvergate Bank The woes of Silvergate Bank, a crypto-focused financial services provider, seem to be increasing with each passing hour. The bank has been dropped by six […]
Read more »