CryptoMediaClub
Friday, October 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Australia Rejects Retail CBDC and Starts Developing Wholesale eAUD

18.09.2024
A A
0
123
VIEWS
ShareShare

The Reserve Bank of Australia (RBA) announced that a wholesale central bank digital currency (CBDC) offers greater benefits to the country’s financial system. The regulator is abandoning plans to introduce a retail digital Australian dollar (eAUD) and launching a three-year program to develop a wholesale CBDC.

Australia Rejects Retail CBDC and Starts Developing Wholesale eAUD

The Reserve Bank of Australia concluded that the retail CBDC can’t deliver real innovation for public use in Australia. Therefore, the RBA will focus on developing a wholesale digital currency with a range of benefits to both the central bank and local businesses. This was announced by Brad Jones, Assistant Governor of the RBA, during a speech at the Intersekt conference in Melbourne.

Some of the key benefits of wholesale CBDCs that Jones highlighted in his speech include:

  • reduced counterparty risks;
  • increased transparency;
  • auditability;
  • lowered operational risks;
  • improved liquidity;
  • reduced intermediary costs;
  • regulatory compliance.

Besides, the implementation of the wholesale CBDC will enable the RBA to facilitate a more efficient exchange of assets and fiat funds using a single digital platform. Smart contracts and blockchain technologies will greatly simplify and automate complex financial transactions.

Jones said the RBA team prepared a three-year plan to research, develop, and test a wholesale version of the digital Australian dollar (eAUD), which includes the following phases:

  1. Project Acacia, which will run from H2 2024 to H2 2025. The project will concentrate around evaluating the potential of wholesale CBDCs and tokenized commercial bank deposits in cross-border payments and remittances. A key objective will be to explore ways to optimize the digital currency infrastructure and improve the payment process.
  2. Advisory forums starting in H1 2025. Forums involving industry and academia will be held to strengthen interaction between CBDC developers and users and to support market adaptation to digital technologies and financial innovation.
  3. Regulatory sandbox expansion planned for 2025. The RBA plans to work with the Australian government to develop and promote new digital regulatory guidelines for the region.

For the retail eAUD, the RBA intends to conduct a series of public consultations with the community from mid-2025 to gauge demand for the technology. From 2026, the bank plans to return to developing the retail CBDC based on feasibility assessments and lessons learned elsewhere. Jones explained that the bank’s refusal to implement the retail CBDC at this stage is directly related to the complexity of its implementation, as well as the potential for the retail eAUD to increase the cost of borrowing, provoke banking crises, and create difficulties in the adoption of monetary policy.

Australia’s retail CBDC pilot was launched in 2022. It was expected to be completed in early 2023, but the project was extended last March to test a digital government currency together with financial institutions, FinTech companies, and government regulators. The retail CBDC pilot was finally completed in August 2023.

Сообщение Australia Rejects Retail CBDC and Starts Developing Wholesale eAUD появились сначала на CoinsPaid Media.

Share9Tweet6ShareSharePin2

Related Posts

Why Is Crypto Up Today? – October 3, 2025
All news

Why Is Crypto Up Today? – October 3, 2025

03.10.2025
0

The crypto market is up today, with the cryptocurrency market capitalization rising by 1.4%, now standing at $4.22 trillion. Around...

Read moreDetails
NY Senator Introduces Bill to Tax High-Consumption Crypto Miners in New York

NY Senator Introduces Bill to Tax High-Consumption Crypto Miners in New York

03.10.2025
Nomura Unit Eyes Wider Access To Crypto Trading In Japan: Report

Nomura Unit Eyes Wider Access To Crypto Trading In Japan: Report

03.10.2025
Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains

Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains

03.10.2025
Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

03.10.2025
Load More
Next Post
Noble and Monerium Bring EURe to Cosmos and IBC

Noble and Monerium Bring EURe to Cosmos and IBC

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin reclaims 97k worth amid promoting stress from previous whales

Bitcoin reclaims 97k worth amid promoting stress from previous whales

9 months ago
Price analysis 5/22: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC

Price analysis 5/22: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, SOL, MATIC

2 years ago
Solana Leads the Blockchain Revolution with AI-Enhanced ChatGPT Integration

Solana Leads the Blockchain Revolution with AI-Enhanced ChatGPT Integration

2 years ago

Crypto Fraud Exposed: SEC Freezes Assets of DEBT Box in $50 Million Scam

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

Will a Europe-US BTC reserve race actually happen?

XRP Price Prediction: SWIFT Partners With Ethereum Firm – Is Ripple Losing the Payments Race It Started?

Why is Bitcoin near all-time highs? Everything that happened in crypto today

Spot Bitcoin ETF Volume Tops $5 Billion as Price Breaks $120K – ATH Next?

Trending

Why Is Crypto Up Today? – October 3, 2025
All news

Why Is Crypto Up Today? – October 3, 2025

03.10.2025
0

The crypto market is up today, with the cryptocurrency market capitalization rising by 1.4%, now standing at...

NY Senator Introduces Bill to Tax High-Consumption Crypto Miners in New York

NY Senator Introduces Bill to Tax High-Consumption Crypto Miners in New York

03.10.2025
Nomura Unit Eyes Wider Access To Crypto Trading In Japan: Report

Nomura Unit Eyes Wider Access To Crypto Trading In Japan: Report

03.10.2025
Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains

Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains

03.10.2025
Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

03.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz