RBA and DFCRC Release Findings From Project Acacia | Media Releases - rba.gov.au

Australia’s central bank has taken another step toward understanding the future of digital money. The Reserve Bank of Australia (RBA), in partnership with the Digital Finance Cooperative Research Centre (DFCRC), has released the findings from Project Acacia. This exploratory work focused on the potential use cases and design of a central bank digital currency (CBDC) and wholesale digital money within the Australian financial system.

The research evaluated how tokenized commercial bank deposits and a wholesale CBDC could improve the efficiency, transparency, and settlement speed of complex financial transactions. A key area of focus was atomic settlement—the ability to finalize trades instantly—which could reduce counterparty risk in markets. The findings suggest that while the technology is feasible, its implementation hinges on significant policy decisions and industry collaboration.

For market participants, this release is less about an imminent launch and more about setting the technical groundwork. The RBA has consistently stated it has not committed to issuing a CBDC. What you should watch for is the next phase of industry consultation and whether the private sector builds on these standards to modernize payment infrastructure. The development signals a gradual, measured evolution of Australia’s financial architecture, not a sudden shift.