The Reserve Bank of Australia (RBA) has announced the launch of a new phase of Project Acacia, which includes 24 trials related to central bank digital currencies (CBDCs) and crypto assets.
Expansion of Project Acacia
The Reserve Bank of Australia (RBA) has announced that Project Acacia is entering a new testing phase aimed at exploring how central bank digital currencies (CBDCs) and crypto assets can improve wholesale financial markets. A total of 24 use cases will be trialed, involving major banks and fintech firms. The pilot focuses on the role of tokenized assets and settlement systems using stablecoins, bank-issued deposit tokens, and a pilot wholesale CBDC.
Joint Efforts with Regulators
Project Acacia is operated in partnership with the Digital Finance Cooperative Research Centre and is supported by the Australian Securities and Investments Commission (ASIC). ASIC confirmed that regulatory relief will be granted to pilot participants, allowing them to test asset settlement processes under real-world conditions.
> "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," said Brad Jones, assistant governor (Financial System) at the RBA.
Australia’s Digital Asset Strategy
The Australian government continues to explore the integration of digital assets into the broader financial system. In March 2025, the Treasury released plans to develop a "fit-for-purpose" framework for digital assets. Project Acacia was identified as a key initiative within that strategy. The RBA noted that insights from the current phase will help shape future policy decisions and guide the potential role of CBDCs in wholesale finance.
The launch of 24 new trials under Project Acacia highlights Australia's active efforts to integrate digital assets into its financial system, paving new avenues for the banking sector.
