Dubbed the 'eAUD', the project expects the pilot will demonstrate new capabilities in terms of cost, speed and quality outcomes through the use of the digital currency.
Australia’s CBDC pilot is looking for industry participants to make submissions on CBDC use cases.
The Reserve Bank of Australia and the Digital Finance Cooperative Research Centre are looking for industry participants to make submissions on central bank digital currency use cases for its pilot. For the pilot, the eAUD will be a liability of the RBA and denominated in Australian dollars. The amount to be issued will be determined by the RBA considering the requirements of selected use case providers, and no interest will be paid by the RBA on any holdings of eAUD.
According to a timeline included in the white paper, the pilot will be conducted with selected use cases from January-April 2023. It is currently engaging with industry participants on the design and usage of the CBDC pilot, with a deadline of Oct. 31 for expressions of interest. The selected use cases for the pilot will be announced in December, with the actual pilot running from January to April next year.
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Australia CBDC pilot calls for submissions on potential use casesDubbed the 'eAUD', the project expects the pilot will demonstrate new capabilities in terms of cost, speed and quality outcomes through the use of the digital currency.
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