Australia's Central Bank to Explore Developing Wholesale Tokenized Asset Markets
2025-07-10 09:40:35
Main Idea
The Reserve Bank of Australia (RBA) is exploring the development of a wholesale tokenized asset on various blockchain platforms, including Hedera and R3 Corda, as part of 'Project Acacia', which will involve stablecoins, a pilot wholesale CBDC, and bank deposit tokens.
Key Points
1. The RBA announced 'Project Acacia', a initiative to explore wholesale tokenized assets on blockchain platforms like Hedera and R3 Corda.
2. The project will involve the use of stablecoins, a pilot wholesale central bank digital currency (CBDC), and bank deposit tokens in private markets.
3. Participants in Project Acacia include Fireblocks, Northern Trust, and Australian banks such as Commonwealth Bank and Australia and New Zealand Banking Group.
4. The Australian Securities and Investments Commission (ASIC) is also involved in the initiative, providing support to financial institutions.
Description
The Reserve Bank of Australia (RBA) will explore the development of wholesale tokenized asset markets alongside an array of industry participants. "Project Acacia" will use stablecoins, pilot wholesale central bank digital currency (CBDC) and bank deposit tokens in 24 use cases of tokenizing a range of asset classes, such as fixed income and private markets. Tokenization refers to the process of minting assets such as bonds and equities as tokens that can be bought, sold and traded on blockchain...
Latest News
- MARA Holdings Names Ex-Blue River Exec as CPO to Lead Productization of Energy Tech2025-07-10 19:16:32
- Former Bitfury Exec Gould Confirmed to Take Over U.S. Banking Agency OCC2025-07-10 19:14:30
- BTC All-Time High Liveblog: Is This Run Different?2025-07-10 19:13:30
- Bitcoin Breaks Fresh Record Topping $113,0002025-07-10 17:38:15
- NEAR Protocol Gains 5% Amid Surge in Trading Volume2025-07-10 17:37:57