During today’s payment systems board meeting, the Reserve Bank of Australia discussed central bank digital currency (CBDC).
The synopsis states, “While most central banks are still investigating the potential merits, design and implications of CBDC, many see an increased likelihood of issuing some form of CBDC in the future, especially to support wholesale transactions.”
Wholesale transactions could include cross-border payments and settling securities transactions, particularly as settlement times shorten from the two-day timeframe that is common in many jurisdictions. Like the ASX, many regions are exploring using blockchain or DLT for securities post-trade, and it’s desirable to have a CBDC.
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