The central bank in Australia said on Thursday that it moves to its next stage in exploring digital currencies, and launching an experiment on how to support digital funds and the distinctive symbol of wholesale financial markets.
Australian Reserve Bank (RBA) He said In a statement on Thursday, Stablecoins, Roper Deposit Tokens and Pilot Whilese Central Bank Digital Currency (CBDC) by partners participating in the experiment.
The experiment is the second stage of Project Acacia, which is a joint initiative from RBA and the Digital Finance Research Center Declare In November last year.
A variety of organizations, from local Fintech companies to the main banks, was chosen to test 24 cases of use, 19 of which will include real money and five concept guides that include simulation transactions.
These tests will include a set of assets categories, including fixed income, private markets, commercial city receivables, carbon credit and the study of new roads to use bank accounts in RBA.
It is expected that this stage will take six months, with the publication of the results in the first quarter of 2026.
The main banks on board to test the encryption
Three of the four major Australian banks are part of the pilot: the Commonwealth Bank (CBA), the Australia Group and the New Zealand Banking Group (Anz) and Westpac Banking Corporation.
CBA He said It will work with JPMorgan to assess how digital currencies and side registration are efficient and liquid with low risk in the rhipo market.
“The Replo market, with its decisive role in managing liquidity and the implementation of monetary policy, represents an ideal starting point for this exploration,” said Sophie Gilder, the administrative director of Blockchain and CBA digital assets.
Ribo market Involve Borrowing in the short term and money lending, secured by government securities, where a security party sells to another party and agrees to purchase it later at a higher price.
Anz is Driving The bank said in a statement that the test of the issue of use for distinguished commercial payments, which aims to face the challenges of working capital and the cash flow faced by the suppliers.
The state of use of a distinctive steady income will also be conducted, CBDC, wholesale as a symbolic money, will be conducted to facilitate credit settlement and risk -free liquidity.
Green light from the organizers
The Australian market organizer, the Australian Securities and Investment Committee, gave the participants to keep some regulations so that they can try the assets currently sitting outside the law, according to RBA.
“The agency sees useful applications for technologies behind digital assets in wholesale markets.”
“Relief is one of the regulatory requirements that we announced today will allow these technologies to test these technologies – to explore opportunities and determine and address risks.”
The current situation of encryption regulation in Australia
According to the Labor Party at the ruling center, the Australian government proposed a new encoding framework that regulates stock exchanges under the current financial services laws in March.
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The government also promised to work with the four largest banks in Australia to better understand the extent and nature of bankers.
In August 2022, the government began a series of industry consultations to formulate an organizational framework for encryption.
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