On Thursday, the Reserve Bank of Australia (RBA) announced the next phase of its exploration into digital currencies, initiating a trial to assess how digital money and tokenization can enhance wholesale financial markets. This trial, part of Project Acacia, will involve stablecoins, bank deposit tokens, and a pilot wholesale central bank digital currency (CBDC) with various partners. Selected organizations, including local fintechs and major banks, will test 24 use cases, 19 of which will utilize real money. The trial will span six months, with results expected in early 2026. Notably, three of Australia's four major banks—Commonwealth Bank, ANZ, and Westpac—are participating. CBA will collaborate with JPMorgan to explore efficiencies in the repo market, while ANZ will focus on tokenized trade payables and fixed-income use cases. The Australian Securities and Investments Commission has relaxed some regulations to facilitate these trials, reflecting the government's commitment to developing a comprehensive crypto regulatory framework. Read more AI-generated news on: https://app.chaingpt.org/news

#CBDC