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Australia to Explore Potential for Retail and Wholesale CBDCs

“The Reserve Bank of Australia (RBA) is collaborating with the Digital Finance Cooperative Research Centre (DFCRC) to explore use cases for a central bank digital currency (CBDC). The (DFCRC) is a 10-year, A$180 million research programme funded by industry partners, universities and the Australian government, through the Cooperative Research Centres Programme. The project intends to test a general-purpose pilot CBDC issued as a liability of the RBA for use in real world, pilot implementations of services offered by Australian industry participants. The central bank will be exploring any compelling use case for both wholesale and retail CBDCs through this project.”