• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Reserve Bank of Australia Starts Next Phase of Digital Currency Project

user avatar

by Giorgi Kostiuk

10 hours ago


The Reserve Bank of Australia (RBA) has announced the start of the second phase of the digital currency project aimed at exploring their role in financial markets.

Launch of Digital Currency Trials

On Thursday, the RBA representative announced the transition to the next phase of exploring digital currencies. The trials will focus on the role of digital money and tokenization in supporting wholesale financial markets. Stablecoins, bank deposit tokens, and a pilot wholesale central bank digital currency (CBDC) will be used during the trials. This phase will be part of Project Acacia, a joint initiative by the RBA and the Digital Finance Cooperative Research Centre.

Involvement of Major Banks

Three of the four major Australian banks are participating in the trials: Commonwealth Bank (CBA), Australia and New Zealand Banking Group (ANZ), and Westpac Banking Corporation. CBA will work with JPMorgan to assess how digital currencies could enhance efficiency and liquidity with lower risks in the repo market. Meanwhile, ANZ is leading the testing of tokenized trade payables and will investigate tokenized fixed-income instruments.

Regulatory Support and Current State of Crypto Regulation

Australia’s markets regulator, the Australian Securities and Investment Commission (ASIC), has granted participants some regulatory relief, allowing them to test assets currently outside the law. ASIC noted that it sees useful applications for technologies underlying digital assets in wholesale markets. The Australian government is also working on a new regulatory framework for cryptocurrencies to enhance understanding of the nature of banking restrictions.

The launch of digital currency trials in Australia marks an important step in exploring their applications in financial markets. Involvement from major banks and regulatory support demonstrate the growing interest in digital currencies and their potential in the economy.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Coinbase Adds New Cryptocurrencies for Users in Germany

chest

Coinbase announced a list of new cryptocurrencies for users in Germany, including DeFi and meme coins.

user avatarGiorgi Kostiuk

BIT Mining Focuses on Solana, Raising $300 Million

chest

BIT Mining announces $300 million investment in Solana ecosystem, resulting in stock and SOL price increases.

user avatarGiorgi Kostiuk

Bitcoin on the Rise: Overview of Mutuum Finance

chest

Bitcoin is aiming for $115,000 while Mutuum Finance (MUTM) catches attention with a successful presale phase.

user avatarGiorgi Kostiuk

Solo Miner Wins $350,000 for Block 903,883 with CKpool

chest

A solo miner from CKpool wins $350,000, highlighting the rarity of success in solo mining.

user avatarGiorgi Kostiuk

Revocation of U.S. Treasury Reporting Rule: Impact on Decentralized Exchanges

chest

U.S. Treasury has revoked the reporting rule for decentralized exchanges, which may reduce compliance costs and foster DeFi growth.

user avatarGiorgi Kostiuk

Trump's 50% Copper Tariff Announcement: Economic Implications

chest

Trump implemented a 50% tariff on copper effective August 1, 2025, potentially impacting construction and electronics sectors.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.