Australia, Malaysia, Singapore and South Africa launch cenbank digital currency scheme
The Hindu
The initiative, which will also explore different technical, governance and operating designs, should publish its results in early 2022, the statement said.
Central banks in Australia, Singapore, Malaysia and South Africa will conduct a cross border payments trial using different central bank digital currencies (CBDC) to assess if this allows transactions to be settled more cheaply and easily, the banks said on Thursday. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Many governments and central banks around the world are exploring the use of CBDCs, which are digital forms of existingcurrencies. Some, like China, are trialing retail-focused CBDCs designed to replicate cash in circulation, while others are considering using so-called wholesale CBDCs to improve the internal workings of their financial systems.
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