Zerocap Participates in RBA Project Acacia

Zerocap is proud to have participated in Project Acacia, a landmark pilot led by the Reserve Bank of Australia (RBA) in collaboration with the Digital Finance Cooperative Research Centre (DFCRC) and a broad group of leading industry participants — exploring the future of tokenised financial markets in Australia.

What Is Project Acacia?

Project Acacia is a RBA-led initiative designed to investigate how tokenisation and digital asset infrastructure can enhance settlement efficiency, liquidity, and programmability across Australian capital markets. The pilot brought together financial institutions, market infrastructure providers, and digital asset specialists to test these capabilities in real-world conditions — not theoretical models.

Zerocap’s Role: End-to-End Tokenised Bond Lifecycle

As part of the pilot, Zerocap worked closely with Ripple‘s decentralised exchange (DEX) to demonstrate the complete lifecycle of a tokenised Australian Government bond digital twin on blockchain infrastructure. The workflows covered:

• Issuance — minting a digital twin of the bond on-chain
• Secondary trading — executing transfers via Ripple’s DEX
• Redemption — settling maturity events on blockchain rails
• Stablecoin settlement — using programmable digital cash for atomic, real-time payment finality

This end-to-end demonstration validated that tokenised sovereign debt instruments can be issued, traded, and settled entirely on digital infrastructure — with full auditability and programmability at every stage.

Key Findings: What the RBA’s Final Report Tells Us

The findings from the RBA’s final Project Acacia report reinforce what Zerocap believes will become one of the defining structural shifts in global capital markets over the coming decade: the tokenisation of real-world assets (RWAs) and the convergence of traditional finance with digital asset infrastructure.

Specifically, tokenisation has the potential to fundamentally improve:

• Settlement efficiency — moving from T+2 to near-instant atomic settlement
• Liquidity mobility — enabling 24/7 secondary market access and programmable repo
• Programmability — embedding coupon payments, compliance logic, and redemption triggers directly into the asset
• Transparency — on-chain auditability for regulators, custodians, and counterparties
• Market accessibility — lowering minimum participation thresholds and expanding investor reach

Zerocap’s View: The Future Runs on Digital Rails

At Zerocap, we believe the future financial system will increasingly operate on interoperable, always-on digital rails. Project Acacia is a clear signal that central banks and regulators are moving beyond the research phase — these technologies are now being tested in live environments by serious institutional participants.

We are continuing to invest heavily in the infrastructure, liquidity, and institutional workflows required to support this transition — including OTC execution, stablecoin settlement, and tokenised asset structuring capabilities for wholesale clients.

Acknowledgements

Zerocap thanks the Reserve Bank of Australia, the Digital Finance Cooperative Research Centre, Ripple, and all participating organisations for their collaboration on this important initiative. We look forward to continuing to play an active role as Australia’s tokenised asset market infrastructure develops.

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For any institutional pricing, structured product, or tokenised asset enquiries, please get in touch with the Zerocap desk.