Australia’s financial regulator, ASIC, has approved 24 tokenized asset trials under Project Acacia, a collaboration between the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC). The pilots will involve real-money transactions using CBDCs, stablecoins, and bank deposit tokens, with participation from major institutions like ANZ, Commonwealth Bank, and Westpac, alongside fintech firms. The project aims to explore blockchain-based settlements for assets like bonds, carbon credits, and trade receivables, potentially unlocking $12.4 billion in annual economic gains. Critics, however, argue the initiative favors centralized, permissioned systems over decentralized blockchain innovation. Testing will run for six months, with results expected in early 2026.
about Australia Launches 24 Tokenized Asset Pilots with Major BanksCommonwealth Bank of Australia
0 in Finance and 0 in Crypto last weekAsian stocks rise as Chinese tech leads ahead of earnings reports
Most Asian stocks rose, driven by a rally in Chinese technology shares ahead of key earnings reports, with Hong Kong’s Hang Seng index surging 2%. Meanwhile, Australian stocks fell 0.5% following an expected interest rate cut by the Reserve Bank of Australia, which indicated uncertainty about future easing amid a strong labor market and persistent inflation.
about Asian stocks rise as Chinese tech leads ahead of earnings reports