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Australia’s Central Bank Explores Potential Savings With Tokenised Money

The Reserve Bank of Australia (RBA) is considering the launch of a central bank digital currency (CBDC) and studying how tokenised money could save billions of dollars in costs in domestic financial markets. RBA Assistant Governor Brad Jones said tokenisation could deliver hypothetical transaction savings of around A$13 billion ($8.20 billion) a year to issuers in Australia's capital markets.

The RBA and Treasury will publish a joint report around the middle of 2024 to provide a stock take on CBDC research in Australia and set out a roadmap for future work. Australia's government has also outlined proposals for regulating crypto and digital assets that will make platforms subject to existing Australian financial services laws.

Australia Central Bank
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