Australia's central bank is betting on a wholesale CBDC! 🇦🇺

🔹 The Reserve Bank of Australia (RBA) has announced it is prioritizing the development of a wholesale central bank digital currency (CBDC), highlighting its economic benefits and reduced challenges compared to a retail version.

🔹 In a speech on September 18, RBA Deputy Governor Brad Jones said a wholesale CBDC would be an "evolutionary" addition to existing monetary systems.

🔹 The RBA is launching a three-year digital money research initiative, planning to collaborate with industry to explore new technologies and concepts.

🔹 Unlike a retail CBDC, a wholesale version would be more useful for Australia's financial infrastructure.

What do you think of this move? Share your thoughts in the comments! 💬