eAUD pilot program

Australia Announces eAUD Pilot Program

27.09.2022 09:12 (Updated 04.11.2022 17:11)
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by Irene Pinchuk
1 min read

Australia’s central bank announced that it is preparing a CBDC (central bank digital currency) pilot program for mid-2023.

Unlike other digital currencies, CBDC is a centralized and digital version of a nation’s fiat currency, controlled by a central bank. In this case, that’s the Reserve Bank of Australia (RBA) and eAUD – electronic Australian Dollar. For the program, RBA has partnered up with Australia’s Digital Finance Cooperative Research Center.

According to the whitepaper RBA released, the pilot program is not a guarantee of eAUD’s eventual full launch. RBA hopes that established fintech businesses and institutions will participate in investigating eAUD’s use cases, so that they get a clearer picture of whether the CBDC’s integration will lead to positive results. Either way, the rising adoption rate of digital currencies doesn’t seem to be slowing down.

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  • After 6+ years in Digital Marketing & Product Management of B2C relationships, I’ve moved onto the B2B world. Now I’m CEO at Scale Final Content, creating remarkable experiences for every business we work with. We Make UX Content That Ranks 🚀 We are a team of industry leading experts with 6+ years of writing experience, accomplishing the latest SEO trends. I'm a crypto enthusiast, NFT lover and marketer. Obsessed about coffee, UX design and UX content. Live in heart of crypto events, Lisbon, full of sun, ocean and music.

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