Reserve Bank of Australia Enlists Fintechs, Banks in Major CBDC and Stablecoin Pilot

Australia’s central bank is bringing fintechs and traditional lenders into a landmark trial of wholesale CBDCs, stablecoins, and tokenized deposits, signaling growing institutional interest in digital assets.

The Reserve Bank of Australia (RBA) announced Phase 2 of Project Acacia on Thursday, targeting real-world applications in private markets, trade finance, and carbon credit trading.

Selected partners will test 24 use cases—19 with real money—over six months, with findings due in early 2026. The move could accelerate Australia’s position in the global race for digital currency adoption.