UPD: Australia CBDC Use Cases Published

On March 2 the Reserve Bank of Australia published the list of chosen use cases for its CBDC research project. A list of 14 use cases includes payment, tax automation, corporate bond settlement with ABE, and Web3 commerce with Mastercard.

Alex Harutunian

Mar 07, 2023 - 1 min read

As we previously observed, the Reserve Bank of Australia (RBA) was collaborating with the Digital Finance Cooperative Research Centre (DFCRC) on the Australian CBDC (eAUD) project. According to the plan, the next phase was to explore potential use cases for eAUD.

No.	Use Case Description	Use Case Lead / Consortium Partners
1.	Offline Payments	ANZ
2.	Nature-based Asset Trading	ANZ / Commonwealth Bank
3.	SuperStream Payments	ANZ / Oban
4.	Corporate Bond Settlement	Australian Bond Exchange
5.	Tokenised FX Settlement	Canvas Digital
6.	GST Automation	Commonwealth Bank / Intuit
7.	CBDC Custodial Models	digi.cash
8.	Livestock Auction	Fame Capital
9.	High Quality Liquid Assets Securities Trading	Imperium Markets
10.	Interoperable CBDC for trusted Web3 commerce	Mastercard / Cuscal
11.	Funds Custody	Monoova
12.	Construction Payments	NotCentralised
13.	Tokenised Bills	Unizon
14.	CBDC Distribution	ANZ

The RBA representative, Brad Jones, emphasized the wide range of industry participants in his inaguaral speech:

“We are delighted with the enthusiastic engagement by industry in this important research project. It has also been encouraging that the use case providers that have been invited to participate in the pilot span a wide range of entities in the Australian financial system, from smaller fintechs to large financial institutions. The pilot and broader research study that will be conducted in parallel will serve two ends – it will contribute to hands-on learning by industry, and it will add to policy makers’ understanding of how a CBDC could potentially benefit the Australian financial system and economy.”

The selected use cases will be developed and operated until the end of April this year, after which the results will be published. Follow our news as we observe the developments on this project.