The Reserve Bank of Australia (RBA) revealed, in its submission to the Australian Senate Select Committee on Financial Technology and Regulatory Technology, that it has been conducting research on wholesale CBDC, in its in-house Innovation Lab. This included the development in 2019 of a limited proof-of-concept of a distributed ledger technology (DLT) based interbank payment system using a tokenized form of CBDC backed by exchange settlement account balances held at the RBA. Currently, the RBA is close to finalizing a project with a number of external parties that extends the earlier proof-of-concept in a number of ways, including to incorporate tokenized financial assets. The project explores the implications of delivery-versus-payment (DVP) settlement on a DLT platform as well as other programmability features of tokenized CBDC and financial assets. [Read more]
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