The deputy governor of the Reserve Bank of Australia dismissed “speculative cryptocurrencies” and risky stablecoins but said tokenized deposits could unlock $11 billion in annual savings.
Australia and New Zealand (ANZ) bank and the Commonwealth Bank will handle nature-based asset trading of the CBDC pilot, while the Australian Bond Exchange will handle corporate bond settlements.
RBA's Brad Jones said while CBDCs present an array of use cases that could promote financial stability, they also exhibit risks in the monetary system, such as impeding the ability of central banks.
