Reserve Bank of Australia: Stablecoins and bank deposit tokens can coexist in the development of tokenization

According to The Block, Brad Jones, Assistant Governor of the Reserve Bank of Australia (RBA), stated in a speech that the advancement of asset tokenization has shifted from "whether" to "how" to implement it.

Research from Project Acacia shows that tokenization technology can bring about AUD 16.7 billion in efficiency gains to the Australian economy each year. Jones pointed out that stablecoins and bank deposit tokens can play complementary roles—the former is suitable for small emerging tokenization markets, while the latter, with prudent regulation and central bank liquidity support, will play a more important role in larger markets. The RBA also announced the establishment of a digital financial market infrastructure sandbox, the formation of a regulatory-industry tokenization advisory group, and the expansion of the deposit token working group to promote interbank interoperability.