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Al Jazeera
Al Jazeera
Business

Australia’s central bank launches digital currency pilot

Australia RBA Reserve Bank of Australia
Australia's central bank has unveiled plans to examine the potential economic benefits of introducing a central bank digital currency [File: Daniel Munoz/Reuters]

Australia’s central bank has unveiled plans to examine the potential economic benefits of introducing a central bank digital currency (CBDC).

The Reserve Bank of Australia (RBA) said in a statement on Tuesday it would carry out a year-long pilot project to explore “innovative use cases and business models” for a CBDC and gain a better understanding of technological, legal and regulatory considerations.

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