Reserve Bank of Australia forms partnerships to research CBDC

According to a Nov. 2 announcement from The Reserve Bank of Australia, or RBA, the financial institution will be partnering with the Commonwealth Bank, National Australia Bank (OTC:), the financial services company Perpetual, and software company ConsenSys on a project to explore the potential use of a wholesale central bank digital currency in the country using “Ethereum-based distributed ledger technology.”

The RBA stated it would be researching the development of a proof-of-concept for “the issuance of a tokenized form of CBDC.” It specifically mentioned wholesale market participants potentially using the digital currency for tokenized syndicated loans on an DLT platform and exploring the implications of delivery-versus-payment security settlements with cross-chain atomic swaps.

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