Taiwan's Central Bank, under Governor Yang Jinlong, has announced plans to conduct trials of wholesale Central Bank Digital Currency (CBDC).

Unlike retail CBDCs, these trials aim to enhance interbank settlement efficiency using a unified ledger developed with commercial banks.

The trials will include settlement for tokenised deposits, enhancing transaction speeds and reducing settlement risks for securities transactions in central bank money.

Additionally, Taiwan plans to experiment with Purpose Bound Money (PBM), inspired by Singapore's model, to streamline government contract bidding processes.

This initiative aligns Taiwan with other jurisdictions like Brazil, Singapore, and Hong Kong in exploring the potential of wholesale CBDCs for financial innovation.