[Reserve Bank of Australia: Stablecoins and Tokenized Bank Deposits Can Complement Each Other to Drive a Tokenized Economy] According to The Block, Brad Jones, Assistant Governor of the Reserve Bank of Australia, stated that the bank is no longer discussing the role of tokenization in wholesale markets but is instead focusing on how to implement it. Stablecoins and tokenized bank deposits can play complementary roles in the tokenization process. The Digital Finance Cooperative Research Centre estimates that asset and currency tokenization could bring approximately $16.7 billion in annual efficiency gains to the Australian economy. Jones noted that stablecoins could play a role in smaller, emerging tokenized markets, while tokenized bank deposits have greater advantages in larger markets. The Reserve Bank of Australia will collaborate with multiple regulatory agencies and industry participants to launch a series of initiatives, including establishing a digital financial market infrastructure sandbox, expanding the deposit token working group, and forming a regulatory and industry tokenization advisory panel. As for wholesale central bank digital currencies, industry participants believe they are 'potentially useful but far from essential.'