RBA announces wholesale CBDC project

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The Reserve Bank of Australia has launched a wholesale central bank digital currency (CBDC) proof of concept, in conjunction with technology firm ConsenSys.

In a statement, the central bank said it will develop a “tokenised form of CBDC”, which will be used by wholesale market participants during the pilot.

The tokens will be used “for the funding, settlement and repayment of a tokenised syndicated loan on an Ethereum-based [distributed ledger technology] platform”, the RBA said.

Commonwealth

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