According to a report, Project Acacia is spearheaded by the RBA in collaboration with the Digital Finance Cooperative Research Centre (DFCRC). It is supported by key regulatory bodies, including the Australian Securities and Investments Commission (ASIC), the Australian Prudential Regulation Authority (APRA), and the Treasury. The initiative aims to explore how tokenization and digital money—such as stablecoins and wholesale central bank digital currencies (CBDCs)—can revolutionize settlement systems and enhance market efficiency.
Partnering with Coinspot, Forte Tech Solutions led the initial bond tokenization and implemented a Delivery-versus-Payment (DvP) settlement framework using its AUDF stablecoin. This framework enables on-chain trading with near-instant settlement and significantly reduced transaction costs. The company revealed that its stablecoin currently facilitates approximately $200 million in cross-border payments each month.