<ul data-eligibleForWebStory="false"><li>Australia's Reserve Bank is advancing its digital currency journey with Project Acacia, a collaboration exploring digital money's impact on wholesale tokenised asset markets.</li><li>Project Acacia, led by the RBA and DFCRC, will trial stablecoins, digital bank deposits, and CBDCs to enhance finance efficiency.</li><li>The trials, involving 24 use cases with real money and asset transactions, will run on various blockchain platforms and seek regulatory support from ASIC.</li><li>Major Australian banks like CBA, ANZ, and Westpac are partaking in Project Acacia to test digital assets' efficacy in the $350 billion repo market.</li></ul>

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

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