The Reserve Bank of Australia (RBA) has announced the selection of 24 industry participants for the next phase of its tokenized asset settlement research project, known as Project Acacia. The initiative is being conducted in partnership with the Digital Finance Cooperative Research Centre (DFCRC) and is supported by Australia’s financial regulators and Treasury.
Project Acacia investigates how developments in digital currency and the current settlement infrastructure may support the expansion of Australia’s wholesale tokenized asset markets. It is backed by the nation’s Treasury as well as banking and financial agencies.
According to RBA , proposed settlement methods for these use cases include stablecoins, bank deposit tokens, wholesale central bank digital currency (CBDC) pilots, and novel applications of banks’ existing exchange settlement accounts with RBA.
Testing will be conducted over the next six months, with a detailed report on the project’s outcomes expected in the first quarter of 2026. The findings will contribute to RBA’s broader research into how financial innovation can best serve Australia’s economic interests in the digital era.
Brad Jones, Assistant Governor overseeing the RBA’s Financial System Group, emphasized the strategic importance of the initiative. “Ensuring that Australia’s payments and monetary arrangements are fit-for-purpose in the digital age is a strategic priority for the RBA and the Payments System Board,” Jones said.
Commenting on its future impact, he shared, “Project Acacia represents an opportunity for further collaborative exploration on tokenized asset markets and the future of money by the public and private sectors in Australia.”
Fireblocks, Forte Tech Solutions, Imperium Markets, Northern Trust, NotCentralized, ProspEx Group, Westpac Banking Corp., Australian Bond Exchange, Australia and New Zealand Banking Corp., Australian Payments Plus, Canvas, Catena Digital, and Commonwealth Bank of Australia are the main participants in this use case.
Project Acacia reflects a growing global interest in blockchain applications within central banking, particularly in enhancing the speed and reducing the cost of real-time interbank payments.
