The Reserve Bank of Australia (RBA) has no immediate plans to launch a retail CBDC, with its focus on a wholesale version. 🏦

- Speaking at the Intersekt conference in Melbourne, RBA Assistant Governor Brad Jones outlined a three-year plan focusing on a wholesale digital currency.

- Research has shown that a retail CBDC would not bring significant innovation to Australians, while a wholesale version would.

- A wholesale CBDC promises to reduce risk, increase transparency and liquidity, and reduce intermediary and compliance costs.

- Project Acacia will be a priority, exploring a wholesale CBDC and tokenized commercial deposits.

- The RBA is also exploring the benefits of asset tokenization and the role of blockchain and smart contracts in financial transactions.

While 134 countries are researching CBDCs, Australia does not yet see the point of a retail version.