No need for central bank digital currency in Australia says Reserve Bank

[Lenipiw]

Unlike China, Sweden, and Canada, Australia is reluctant to issue a CBDC. While other countries may be placing central bank digital currencies — also known as CBDCs — at the top of their agenda, Australia could buck the trend.

According to a local news report on Sept. 17, the Reserve Bank of Australia's latest payments paper has taken a cautious and sceptical line toward CBDCs as well as private-sector stablecoins.

The RBA does not believe there is currently a strong policy case for issuing a CBDC in Australia, pointing to the success of the country’s efficient, real-time New Payments Platform.
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