The trials span various asset classes, including fixed income, private markets, trade receivables, and carbon credits. Settlement methods will explore CBDCs, stablecoins, bank deposit tokens, and innovative applications of existing commercial bank deposits held at the RBA. Testing will occur over the next six months using platforms such as Hedera, Redbelly, R3 Corda, and Canvas Connect, with a final report expected in the first half of 2026.
RBA Assistant Governor Brad Jones said the selected use cases will help assess how both central bank and private digital money, alongside payments infrastructure, could enhance Australia's wholesale financial markets. The RBA remains focused on wholesale applications, having found limited economic justification for a retail digital currency. Expected benefits include lower risks, improved transparency, better collateral efficiency, and cost reductions.
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