Australia Launches Tokenized Asset Sandbox After ₱995.57 billion ($16.6 billion) Study
The Reserve Bank of Australia is moving from research pilots to a long-term regulatory sandbox for tokenized assets, following completion of Project Acacia and findings that tokenization could deliver ₱995.57 billion ($16.6 billion) in annual economic benefits.
Key Takeaway
Australia shifts from research to real markets with regulatory sandbox, signaling institutional tokenization is coming.
Reserve Bank of Australia Assistant Governor Brad Jones said tokenization is now "a question of how, not if" as the central bank concluded Project Acacia, its research program on tokenized assets and money. The RBA is launching a Digital Market Infrastructure Sandbox to replace short-term pilots with a longer-term, stage-gated environment testing tokenized assets, tokenized money, and settlement systems for commercialization.
The RBA is coordinating with the Australian Securities and Investments Commission and AUSTRAC on classification of tokenized assets, settlement finality mechanisms, and licensing requirements for new platforms. Jones outlined the central bank's focus on tokenized bank deposits, stablecoins, and a potential wholesale central bank digital currency role.
BTC Markets Chief Commercial Officer Paul Stonham, a member of the Project Acacia advisory group, said regulatory coordination between the RBA, ASIC, and AUSTRAC is the most important development needed to address legal and regulatory uncertainty that has limited institutional participation. He called Project Acacia a turning point, saying the RBA's decision to move to a stage-gated sandbox environment signals genuine institutional commitment to making tokenized finance work in Australia, not just studying it.
ASIC issued guidance in late October 2025 classifying stablecoins, wrapped tokens, tokenized securities, and digital asset wallets as financial products requiring Australian Financial Services Licenses, with a no-action position until June 2026. Treasury released draft legislation in September 2025 imposing licensing obligations on digital asset platforms and custodians.
This article was written based on reporting from Decrypt.
