RBA Explores Central Bank Digital Currency and Tokenisation to Cut Billions in Transaction Costs

RBA says tokenised money could save billions in domestic financial market costs through increased liquidity and atomic settlement.

RBA studying if and how a central bank digital currency (CBDC) could facilitate atomic settlement and complement private digital monies.

Australia outlined proposals to regulate crypto/digital assets under existing financial laws.

RBA estimates $13B hypothetical transaction savings from tokenisation in capital markets.

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