Australia’s central Bank Launches Digital Money Pilot
The Reserve Bank of Australia has initiated a new phase of testing digital currencies. Alongside regulatory relaxation, they aim to explore the potential of digital finance.
Project Acacia, spearheaded by the bank with the Digital Finance Cooperative Research Centre, has picked 24 use cases for the trial. These scenarios will assess how stablecoins, digital tokens, and a central bank digital currency might affect wholesale markets.
Brad Jones, Assistant Governor at the RBA, emphasized the project’s importance: “These tests are vital for understanding how digital money can improve our financial systems.”
The experiments will simulate real transactions with fixed income, private investments, and more. They will span different blockchain platforms like Redbelly Network and R3 Corda.
FinTechs and big banks like ANZ and Westpac are participating. The Australian Securities and investments Commission is easing regulations so pilots can test new ground.
The initiative follows the government’s push for digital asset innovation, announced last year. Results, due early 2026, could shape the future of australia’s financial landscape.
