SYDNEY, Nov 2 (Reuters) - Australia's central bank on Monday said it was launching a project to explore the potential use and implications of a wholesale form of central bank digital currency (CBDC) using distributed ledger technology (DLT).
The Reserve Bank of Australia (RBA) said it was partnering with Commonwealth Bank (CBA) , National Australia Bank (NAB) , Perpetual and ConsenSys Software, a blockchain technology company, on the collaborative project.
The project will involve the development of a proof-of-concept for the issuance of a tokenised form of CBDC that can be used by wholesale market participants for the funding, settlement and repayment of a tokenised syndicated loan on an Ethereum-based DLT platform.
News: CBA Australia's central bank launches digital currency project
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