Central Bank of Australia: stablecoins and bank deposit tokens can coexist in the development of tokenization

According to TheBlock, Brad Jones, Assistant Governor of the Reserve Bank of Australia (RBA), said in a speech that the advancement of asset tokenization has shifted from "whether" to "how to implement it.<br /> ProjectAcacia project research shows that tokenization technology can bring approximately US$16.7 billion in efficiency improvements to the Australia economy every year. Jones pointed out that stablecoins and bank deposit tokens can play complementary roles-the former is suitable for small emerging tokenized markets, while the latter will play a more important role in large markets with prudential supervision and central bank liquidity support. RBA also announced that it will establish a digital financial market infrastructure sandbox, establish a Regulation-Industry Tokenization Advisory Group, and expand the Deposit Tokens Working Group to promote cross-bank interoperability.