RBA: Tokenisation Could Save Billions in Australian Financial Markets

Australia's central bank says tokenisation could save billions in financial market costs.

Tokenisation could provide transaction savings of around $13 billion a year in capital markets.

Another $1-4 billion could be saved in fees through increased trading volumes and atomic settlement.

RBA studying potential central bank digital currency (CBDC) to facilitate atomic settlement.

RBA and Treasury to publish joint CBDC report in mid-2024 with future work roadmap.