Australia’s central bank backs tokenization as pilot finds $16.7B upside
Tokenized finance and related infrastructure upgrades could be “revolutionary,” according to industry advocates cited by the Reserve Bank of Australia.
The Reserve Bank of Australia is putting its support behind the real-world asset tokenization sector, citing recent analysis that it could contribute 24 billion Australian dollars ($16.7 billion) to the economy per year.
Assistant Governor Brad Jones said on Wednesday that findings from Project Acacia suggest tokenized finance and related infrastructure upgrades could be “revolutionary,” according to industry advocates cited in the report.
He said that potential gains for the Australian economy from RWA tokenization were on the order of $16.7 billion per year, “and larger still if new markets emerged.”
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