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Techub News reported that according to The Block, Brad Jones, Assistant Governor of the Reserve Bank of Australia (RBA), stated in a speech that asset tokenization has shifted from "whether" to "how" to implement it. Research from Project Acacia shows that tokenization technology could deliver approximately $16.7 billion in annual efficiency gains to the Australian economy.
Jones stated that stablecoins and deposit tokens can play complementary roles, with the former being suitable for small emerging tokenization markets, while the latter, backed by prudent regulation and central bank liquidity support, will play a more important role in large markets. The RBA will also establish a digital financial market infrastructure sandbox, establish a regulatory-industry tokenization advisory group, and expand the deposit token working group to advance cross-institutional interoperability.