On Monday, Australian company Imperium Markets announced the successful execution of its central bank digital currency (CBDC) trial, using the country’s eAUD to achieve atomic settlement of securities transactions.
The test demonstrated the potential of CBDCs to create efficiencies and remove risks from wholesale money markets and debt capital markets, which play a vital role in the Australian economy. It was part of the Reserve Bank of Australia’s (RBA) CBDC pilot program, which has been publishing the results of its various use cases since May.
The pilot saw Westpac and the Commonwealth Bank, two of Australia’s largest financial institutions, issue certificates of deposit on a blockchain using CBDC for settlement. The successful use case confirmed the benefits of distributed ledger technology (DLT) for streamlining trading, settlements and securities custody through atomic settlement.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
