Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The Reserve Bank of Australia (RBA) and the Digital Finance CRC (DFCRC) have announced the initiation of a pilot phase to evaluate settlements of tokenized assets.
The RBA and DFCRC disclosed the commencement of the pilot phase of Project Acacia, during which test settlements of tokenized assets will be carried out utilizing innovative payment methods.
Project Acacia is a collaborative research effort between the RBA and DFCRC focused on investigating the possibilities of digital currencies and DLT infrastructure in the advancement of wholesale tokenized asset markets. The initiative is backed by the Australian Treasury, the Australian Securities and Investments Commission (ASIC), and the Australian Prudential Regulation Authority (APRA).
A total of 24 scenarios have been chosen for testing:
- 19 pilots involving actual transactions;
- 5 conceptual cases that simulate transactions in a testing environment.
The assets being tested include debt instruments, private markets, trade receivables, and carbon credits. The settlement instruments comprise stablecoins, tokenized deposits, and a pilot version of a wholesale central bank digital currency (CBDC).
Related Posts
The CBDC will be issued across various public and private DLT platforms, such as Hedera, Redbelly Network, R3 Corda, Canvas Connect, and EVM-compatible networks.
To provide testing flexibility, ASIC has granted participants a specific regulatory exemption that permits real transactions with a limited number of financial institutions without full adherence to existing regulations. This enables secure testing of new settlement mechanisms, including the use of CBDC.
Participants include:
- Australia’s largest banks;
- infrastructure and financial solution providers;
- digital asset providers;
- FinTech companies and DLT solution developers.
Interim findings are anticipated in Q1 2026.
The RBA considers the project a strategically significant component for investigating digital money and enhancing the efficiency of the financial system. According to DFCRC estimates, the economic potential of adopting such technologies in settlements and cross-border payments could reach 19 billion Australian dollars annually. Project Acacia will lay the groundwork for developing practical settlement models for tokenized assets, including real-world CBDC applications within market infrastructure.
In September 2024, the Reserve Bank of Australia halted the development of a retail CBDC version and initiated a program to create a wholesale digital Australian dollar (eAUD).
Сообщение Australia to Pilot CBDC in Tokenized Asset Settlements появились сначала на CoinsPaid Media.
