Possibility of an Official Australian Digital Currency in the Future: RBA

Possibility of an Official Australian Digital Currency in the Future: RBA
Reserve Bank Governor Philip Lowe at the Standing Committee on Economics at Parliament House in Canberra, Australia on Feb. 5, 2021. Sam Mooy/Getty Images
Rebecca Zhu
Updated:
Philip Lowe, governor of the Reserve Bank of Australia (RBA), has flagged the possibility of a central bank-backed form of digital currency in the future and welcomed the federal government announcement to overhaul the payments system.
In an address to the Australian Payments Network Summit on Dec. 9, Lowe discussed the rising popularity of electronic payments through digital wallets.