The Central Bank will test 24 options for using its own digital currency (CBDC) with the participation of fintech companies. The project participants also included several large Australian banks: Commonwealth Bank of Australia, Australia and New Zealand Banking Corporation and Westpac Banking Corporation. RBA intends to release test CBDC in Redbelly Network, Hedera, R3 Corda and other networks compatible with the Ethereum virtual machine (EVM).
Participants in the pilot project will check – how are stablecoins, tokenized bank deposits and CBDC can be used for settlements. We are talking about fixed income tools, private market tools, receivables and carbon loans. The tests began on July 10 and last six months. The results should be published in the first quarter of 2026.
“The Acacia project enables the state and private sector of the Australian economy to jointly study the current assets market. Testing of various options for using CBDC will help us better understand how to improve the country’s payment infrastructure and the work of financial markets, ”said Brad Jones Deputy Manager of RBA.
The Acacia project was launched by RBA and the cooperative research center of digital finance (DFCRC). The project received support for the securities and investment commission Australia (ASIC).
Earlier, the Central Bank of Australia said that the digital Australian dollar will be useful for the so -called separate social groups deprived of banking services: tourists, foreign students or victims of domestic violence.
Source: Bits
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