The Reserve Bank of Australia conducts digital currency testing to improve the cryptocurrency market with the Acacia project.
The project, a collaboration between the Reserve Bank of Australia and a broader digital finance research center, will test stablecoins, digital bank deposits, and a trial version of central bank digital currency (CBDC).
MAIN CONTENT
The Acacia project focuses on testing stablecoins and CBDC in the large cryptocurrency market.
24 use cases with real and simulated transactions across multiple Blockchain platforms.
Major banks and regulatory agencies in Australia support regulatory relief to promote digital financial innovation.
What is the Acacia project and what are its goals?
The Acacia project is an initiative of the Reserve Bank of Australia in collaboration with the Digital Finance Cooperative Research Centre to study how digital currency can enhance efficiency and safety in the cryptocurrency market. This is a step forward in Australia's digital currency journey to test applications such as stablecoins, bank deposit tokens, and a trial version of CBDC, involving various parties, from fintech startups to major banks.
Brad Jones, Deputy Governor responsible for financial system at the RBA, emphasized: "The use cases will help us understand better how central bank and private digital currency solutions can combine with payment infrastructure to improve the operation of the wholesale financial market in Australia."
"We see the repo market – an essential part of liquidity management and monetary policy – as a reasonable starting point for this project."
Sophie Gilder, Director of Blockchain and Digital Assets at Commonwealth Bank, 2025
What technologies are being tested on which platforms?
The Acacia project implements 24 different use cases, including asset types such as bonds, private markets, trade receivables, and carbon credits with real and simulated transactions. The testing spans multiple Blockchain platforms including Hedera, Redbelly Network, R3 Corda, Canvas Connect, and EVM-compatible networks to ensure interoperability and diverse applications.
The diversity in technology and asset types allows the project to comprehensively review the efficiency and technical risks of implementing central bank digital currency as well as digital bank tokens.
What is the role of regulators and banks in the Acacia project?
The involvement of ASIC, APRA, and the Australian Department of Finance demonstrates a commitment to support financial innovation through regulatory relief and facilitating participation for companies. Additionally, major banks such as Commonwealth Bank, ANZ, and Westpac are also involved, particularly Commonwealth Bank collaborating with international financial institutions to pilot the use of digital currency and cryptocurrency in Australia's $350 billion repo market.
This multilateral cooperation creates a solid foundation for testing and assessing the real impact of digital assets on the traditional financial market.
What will the timeline and results of the Acacia project be?
The Acacia project is entering a 6-month trial phase, with a final report expected in Q1 2026. This report will serve as a basis for the Reserve Bank of Australia to guide policy development and apply digital financial solutions to support national economic growth while enhancing the safety and efficiency of the wholesale payment system.
What is the current international trend regarding central bank digital currencies (CBDC)?
Many countries are accelerating research and testing of CBDC, with the Bank of Japan starting a pilot program in 2023 and continuing to collaborate with businesses and the government to refine the design of digital currency. Meanwhile, the European Central Bank is intensifying the development of a digital euro to reduce dependence on U.S. payment providers.
In contrast, U.S. policy currently does not allow the Fed to issue a digital USD, but supports the development of private cryptocurrencies. This difference reflects the global financial landscape gradually shifting towards a digital foundation.
"The development of CBDC is an important trend to promote fast, safe, and transparent payments in the international financial system."
Chris Giancarlo, former Chairman of the U.S. Commodity Futures Trading Commission, 2025
Frequently Asked Questions
What types of digital currencies does the Acacia project test?
Acacia tests stablecoins, digital bank deposit tokens, and a trial version of CBDC issued by the Reserve Bank of Australia.What important partners are involved in the project?
Including the Reserve Bank of Australia, the DFCRC research center, major banks like Commonwealth Bank, ANZ, Westpac, along with ASIC, APRA, and the Department of Finance.How long is the expected trial period?
The official trial lasts 6 months, with a complete report expected in Q1 2026.Which Blockchain platforms does the Acacia project run on?
Testing on multiple platforms such as Hedera, Redbelly Network, R3 Corda, Canvas Connect, and EVM-compatible networks.What is the ultimate goal of the project?
Enhancing efficiency, safety, and payment features in the wholesale financial market in Australia through the capabilities of central bank digital currency applications.
Source: https://tintucbitcoin.com/australia-mo-rong-thu-nghiem-cbdc-acacia/
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