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.