Australia's dedication to a digital monetary framework based on tokens within the Acacia Project
The Acacia Project, a significant financial innovation initiative in Australia, is set to release the results of its second phase in the first quarter of 2026. With the potential to revolutionise Australia's financial infrastructure, the findings could influence policy decisions on the adoption and regulation of digital assets globally.
Led by the Reserve Bank of Australia (RBA), the project is a collaboration with the Digital Finance Cooperative Research Centre (DFCRC) and involves major Australian banks such as Commonwealth Bank, ANZ, and Westpac, as well as international actors like JPMorgan and local fintechs.
Brad Jones, deputy governor of the RBA, has emphasised that ensuring Australia's payments and monetary agreements are fit for the digital age is a strategic priority. The Acacia Project is a key part of this mission, focusing on central bank digital currencies (CBDC), stablecoins, and tokenized assets.
During the second phase, the project will conduct a six-month trial with 24 selected use cases, covering a wide range of assets including fixed income, private markets, commercial receivables, and carbon credits. Nineteen of these use cases involve real transactions with digital money, while five are simulated concept tests.
The trial aims to evaluate how emerging technologies can improve the efficiency, liquidity, and security of wholesale financial asset settlement. New ways of operating with RBA settlement accounts are being explored, integrating blockchain platforms such as Hedera, Redbelly Network, and R3 Corda.
One of the key goals of the project is to assess how integrating stablecoins, CBDCs, and tokenized assets could enable faster, cheaper, and more transparent large-scale transactions between financial institutions. The project also collaborates closely with regulatory bodies such as ASIC, APRA, and the Australian Treasury to ensure regulatory compliance and to provide necessary relief to facilitate the pilot experiments.
The Acacia Project serves as a benchmark for designing modern, secure, and efficient financial ecosystems powered by blockchain technology and asset tokenization. By practically advancing the government's vision on digital assets integration, tokenization, and wholesale CBDCs, as outlined in the March 2025 Whitepaper on developing Australia’s digital asset industry, the project aims to position Australia as a leader in digital finance innovation.
The Acacia Project is a significant player in the global race to develop CBDCs. With over 130 countries exploring or implementing CBDCs, few have managed to integrate real-world tests with institutional actors and adaptive regulatory frameworks as Australia has. The results of the second phase could shape the future of Australian financial infrastructure and set a precedent for other countries to follow.
In its second phase, the Acacia Project, a collaboration between the Reserve Bank of Australia, DFCRC, major Australian banks, and international actors, is evaluating the integration of stablecoins, CBDCs, and tokenized assets in the health-and-wellness sector, specifically carbon credits, to facilitate faster, cheaper, and more transparent large-scale transactions. This trial is also exploring new ways of operating with RBA settlement accounts using emerging technologies such as Hedera, Redbelly Network, and R3 Corda.
The Acacia Project's focus on central bank digital currencies, stablecoins, and tokenized assets aligns with the strategic priority of ensuring Australia's payments and monetary agreements are fit for the digital age. The project's outcomes could significantly impact the science of finance and business by revolutionizing Australia's financial infrastructure and potentially influencing policy decisions on the adoption and regulation of digital assets globally.
With the potential to position Australia as a leader in digital finance innovation and a significant player in the global race to develop CBDCs, the results of the Acacia Project's second phase, set to be released in Q1 2026, could shape the future of Australia's finance, technology, and health-and-wellness sectors.
