A New Era in Australia: First CBDC Transaction Is Made

As part of a pilot study for the country’s possible CBDC, Australia has completed its first foreign exchange transaction using the eAUD. This is occurring at a time when several nations are showing an interest in learning more about digital currencies issued by their central banks or perhaps launching their own.

Canvas, a Blockchain Company, Made the Test Transaction

Canvas said on May 17 that DigitalX and TAF Capital, managers of cryptocurrency funds have traded eAUD against the stablecoin USD Coin . Canvas said that the transaction cleared quickly, claiming victory over “slow, expensive and error-prone” conventional FX and remittance networks .
The FX operation was one of several trials run as the nation investigates possible applications for a CBDC. The Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Center (DFCRC) started the pilot program .

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