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.
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Tokenization refers to the process of minting assets such as bonds and equities as tokens that can be bought, sold and traded on blockchains, with the aim of making processes faster, cheaper and more transparent.
The Australian Securities and Investments Commission (ASIC) is also providing regulatory relief in order to streamline the pilot, which
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