Odaily Planet Daily News - The Reserve Bank of Australia (RBA) announced on Thursday that its key project "Project Acacia" is entering the next phase of testing, which will explore how crypto assets and central bank digital currencies (CBDC) can support the development of the country's wholesale tokenized asset market. The project plans to test 24 use cases in the next phase, with participants including fintech companies and major banks such as Commonwealth Bank of Australia, ANZ Bank, and Westpac Bank. The tests will cover various settlement assets, including stablecoins, bank deposit tokens, and pilot wholesale CBDC. The Australian Securities and Investments Commission (ASIC) stated that it will provide regulatory relief for project participants to test tokenized asset trading. This project is a joint initiative of the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre and is an important part of the Australian government's "fit-for-purpose" digital asset framework. (The Block)

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