Australia’s Central Bank prioritizes wholesale central bank digital currency (wCBDC) over retail, citing more significant economic benefits

Australia’s Central Bank prioritizes wholesale central bank digital currency (wCBDC) over retail, citing more significant economic benefits

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Australia’s Central Bank prioritizes wholesale central bank digital currency (wCBDC) over retail, citing more significant economic benefits

The Reserve Bank of Australia (RBA) has announced a strategic focus on launching a wCBDC over the next three years, moving away from the idea of a retail CBDC. In a speech by RBA Assistant Governor Brad Jones at the Intersekt Fintech Conference in Melbourne on September 18, RBA outlined its roadmap for wholesale digital money and infrastructure development.

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