Share this article
Australia's CBDC Pilot to Be Completed in 2023
The pilot, which is exploring "innovative use cases" for a central bank digital currency, kicked off in August.
By Amitoj Singh
Updated May 11, 2023, 5:53 p.m. Published Sep 26, 2022, 11:20 a.m.
The Reserve Bank of Australia (RBA) is expecting to complete its central bank digital currency (CBDC) pilot by mid-2023, according to a white paper published on Monday.
The purpose of the pilot is to "explore innovative use cases" that could be supported by the issuance of a CBDC, a media release said. The white paper, which is a document produced by the bank that can later be used to inform future laws, said the project was also looking into regulatory considerations associated with a CBDC.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The paper did not reveal a commitment from the RBA to issue a CBDC but the bank is seeking feedback from industry participants that will "contribute to ongoing research." The experiment is expected to end in the beginning of next year with results to be published in mid-2023, according to the document.
Australia's CBDC research project kicked off in July and the pilot commenced in August. The document was published in the wake of Australian opposition politician Andrew Bragg criticizing the current government, led by Prime Minister Anthony Albanese, on its "inaction" when it came to crypto. The Albanese government has meanwhile announced it will use "token mapping" as a framework for regulation.
The white paper provides additional details on the CBDC project including that Australia's pilot currency would be called eAUD, and all participants in the project will need to be invited and approved.
Read More: Australia Starts Research Program to Explore Digital Asset Opportunities
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Cascade Unveils 24/7 Neo-Brokerage Offering Perpetuals on Cryptos, U.S. Stocks
The platform will let retail traders use one margin account to trade round-the-clock perpetual markets.
What to know:
- Cascade has introduced a 24/7 brokerage-style app for perpetual markets spanning crypto, U.S. equities and private-asset exposure.
- The firm is pitching a single, unified margin account with direct-to-bank U.S. dollar capability for deposits and withdrawals.
- The company has raised $15 million from investors including Polychain Capital, Variant and Coinbase Ventures.
Top Stories
