The project involved the RBA issuing a limited-scale ‘pilot’ CBDC that was a real legal claim on the RBA. The pilot CBDC was used by selected industry participants to demonstrate how a CBDC could be used to provide innovative payment and settlement services to Australian households and businesses.
Mastercard has successfully demonstrated that central bank digital currency (CBDCs) can be tokenised (or “wrapped”) onto different blockchains through a new solution jointly developed by Cuscal and Mintable. This provides consumers with a new option to participate in commerce across multiple blockchains with increased security and ease.
The solution was developed as part of a research project by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) to explore potential use cases for CBDCs in Australia.
