The Reserve Financial institution of Australia (RBA) and the Digital Finance Cooperative Analysis Centre (DFCRC) immediately revealed a session paper which seeks business suggestions on a brand new analysis initiative, Mission Acacia. This challenge will discover how completely different types of digital cash and related infrastructure may help the event of wholesale tokenised asset markets in Australia. It was flagged within the roadmap set out within the current joint RBA-Treasury paper and associated speech on central financial institution digital forex (CBDC) and the way forward for digital cash in Australia.
The session paper seeks expressions of curiosity from business in collaborating in an experimental analysis section for Mission Acacia, and in becoming a member of an Trade Advisory Group for the challenge. Enter can be sought on the technical and purposeful capabilities of latest types of settlement infrastructure and digital cash, together with wholesale CBDC and tokenised financial institution deposits, that might promote well-functioning tokenised asset markets and stability within the monetary system. Responses to the session paper are requested by Wednesday 11 December 2024 by way of projectacacia@rba.gov.au.
Brad Jones, Assistant Governor (Monetary System) on the RBA mentioned, ‘Shaping the way forward for cash in Australia is a strategic precedence of the RBA and the Funds System Board. The RBA, alongside the DFCRC, are searching for to interact with business companions on Mission Acacia to look at how innovation in wholesale markets may very well be enabled by new types of digital cash and supporting infrastructure. The position that tokenised asset markets may play in bettering the effectivity and resilience of wholesale funds and settlements, and in enhancing cross-border funds, are areas of specific curiosity. Our overarching goal right here is to assist deal with the bigger query of how innovation in our monetary system can greatest help the Australian financial system within the digital age.’
