Share this article
Australian Central Bank Chief Believes Regulated Private Tokens Could Be Better Than CBDCs: Report
Governor Philip Lowe spoke at a panel discussion at the G20 finance officials' meeting in Indonesia on Sunday.
By Amitoj Singh
Updated May 11, 2023, 4:49 p.m. Published Jul 18, 2022, 10:46 a.m.
Australian central bank governor, Philip Lowe, said that privately issued consumer-focused digital tokens could be better than central bank-issued tokens assuming the companies can be regulated appropriately, according to a Reuters report.
- Philip Lowe was speaking at a panel discussion at the G20 finance officials' meeting in Indonesia on Sunday. "I tend to think that the private solution is going to be better - if we can get the regulatory arrangements right," Lowe said.
- Lowe explained that "the private sector is better than the central bank" because it is better "at innovating and designing features for these tokens." He also said there are also "likely to be very significant costs for the central bank setting up a digital token."
- In order for the regulatory framework to be effective, Australia has set a tentative deadline of 2025 to implement crypto regulation, according to its financial regulator.
- Central banks across the world are developing central bank digital currencies (CBDCs), grappling with the idea of either retail for consumers directly or wholesale for banks or both.
STORY CONTINUES BELOW
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
CFTC Launches Digital Assets Pilot Allowing Bitcoin, Ether and USDC as Collateral
Acting Chair Caroline Pham has unveiled a first-of-its-kind U.S. program to permit tokenized collateral in derivatives markets, citing "clear guardrails" for firms.
What to know:
- The CFTC has launched a pilot program allowing BTC, ETH and USDC to be used as collateral in U.S. derivatives markets.
- The program is aimed at approved futures commission merchants and includes strict custody, reporting and oversight requirements.
- The agency also issued updated guidance for tokenized assets and withdrew outdated restrictions following the GENIUS Act.
Top Stories
