Australia’s central bank backs tokenization as pilot finds $16.7B upside
Tokenized finance and related infrastructure upgrades will be “revolutionary,” said Reserve Bank of Australia Assistant Governor Brad Jones.
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.
Australia’s central bank assistant governor Brad Jones shared findings from Project Acacia on Wednesday, commenting that tokenized finance and related infrastructure upgrades will be “revolutionary,” according to advocates.
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.”