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Homepage > News > Finance > Australia’s ‘Project Acacia’ enters next stage of testing Australia’s central bank announced it was moving to the next phase of its tokenized asset settlement research project, having selected the industry participants and use cases to explore how digital money and tokenization can support wholesale financial markets. In a July 10 statement, the Reserve Bank of Australia (RBA) said that the initiative, known as ‘Project Acacia,’ had settled on 24 innovative use cases from a diverse selection of organizations, ranging from local fintechs to major banks, for the next stage of the project. There will be 19 pilot use cases involving real money and real asset transactions, and five proof‑of‑concept (PoC) use cases involving simulated transactions. The use cases involve a range of asset classes, including fixed income, private markets, trade receivables, and carbon credits. Project Acacia was launched in November 2024 as a joint initiative between the RBA and the Digital Finance Cooperative Research Centre (DFCRC). It is also being supported by the Australian Securities and Investments Commission (ASIC), the Australian Prudential Regulation Authority (APRA), and the Australian Treasury. The next stage of the project seeks to test a variety of settlement assets, including stablecoins, bank deposit tokens, and pilot wholesale central bank digital currency (CBDC), as well as new ways of using banks’ existing exchange settlement accounts at the RBA. Several major Australian banks, including the Commonwealth Bank of Australia, Australia and New Zealand Banking Corporation, and Westpac Banking Corporation, are among the pilot participants. The RBA also revealed that the pilot wholesale CBDC for testing use cases will be issued on a range of private and public‑permissioned distributed ledger technology (DLT) platforms, including Hedera, Redbelly Network, R3 Corda, Canvas Connect, and other EVM Ethereum Virtual Machine (EVM)‑compatible networks. “Project Acacia represents an…

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Filed under: News - @ July 15, 2025 9:27 am