Australian Central Bank Launches Project Acacia To Explore Wholesale CBDC Benefits

ccn.comPublished on 2024-09-18Last updated on 2024-09-18

The Reserve Bank of Australia (RBA)  is exploring the potential benefits of a wholesale central bank digital currency (CBDC). This shift in focus comes after the RBA determined that a retail CBDC would offer limited advantages to the Australian public.

The RBA believes that a wholesale CBDC can significantly improve the efficiency, transparency, and resilience of wholesale markets.

By focusing on wholesale CBDCs, the RBA aims to reduce counterparty and operational risks, enhance transparency and auditability, and lower costs associated with intermediaries and compliance.

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