Australia Expands Digital Currency Trials with Project Acacia as CBDC Race Heats Up

Key Points

1. Project Acacia is a joint effort between the RBA, Digital Finance Cooperative Research Centre (DFCRC), and supported by ASIC, APRA, and the Australian Treasury.

2. The project will test 24 use cases, including real-money transactions and proof-of-concept trials, involving fintech startups and major banks like CBA, ANZ, and Westpac.

3. Use cases cover various asset types such as bonds, private markets, trade receivables, and carbon credits, utilizing platforms like Hedera, R3 Corda, and EVM-compatible networks.

4. ASIC is offering regulatory relief to facilitate participation, similar to previous RBA digital money initiatives.

5. A final report is expected in Q1 2026, which will inform the RBA's approach to digital finance in Australia's financial system.