The initiative, dubbed Project Dunbar, will prototype shared platforms enabling direct transfers between institutions using digital currencies issued by multiple central banks. The pilot’s findings will be used to inform the “development of global and regional platforms” in addition to supporting the G20’s roadmap for improving cross-border payments.
Blockchain Australia, an association representing the local crypto industry, has warned that the country has fallen behind on the regulatory front due to the undue persistence of a dismissive “wild west” narrative.
