According to announcement on November 2, The Reserve Bank of Australia (RBA) will be working with Commonwealth Bank, National Australia Bank, Perpetual financial services firm and ConsenSys software development firm on a project to investigate the potential use of “Wholesale digital currency of the central bank” in the country. It is known that the latter would be based on “Ethereum distributed ledger technology.”
The RBA said it will investigate “Developing a proof of validity of the concept of issuing a tokenized form of CBDC”. In particular, it was mentioned about wholesale market participants that could potentially use digital currency for tokenized syndicated loans on the DLT platform. It is also about examining the implications “Security of supply settlements in relation to interchain swap payments”.