RBA Shifting Focus on Digital Tokens From If to How, Jones Says

Australia’s central bank has officially shifted its stance on wholesale digital tokens from theoretical exploration to practical implementation, signaling a major policy pivot in financial infrastructure. The move follows a successful pilot project demonstrating potential efficiency gains in payment systems, according to Assistant Governor Brad Jones, who confirmed the strategic shift in March 2026. Wholesale digital tokens—central bank-backed digital assets for institutional use—are now seen as inevitable, with the focus turning to operational frameworks and regulatory guardrails. The bank aims to leverage distributed ledger technology to streamline interbank settlements, reduce counterparty risks, and enhance transparency in high-value transactions. This acceleration reflects global momentum toward tokenized assets, positioning Australia as an early adopter among G20 central banks in modernizing financial market infrastructure.