As part of the Reserve Bank of Australia and Digital Finance CRC‑led Project Acacia, Commonwealth Bank of Australia (CBA) has been exploring how digital money and tokenized wholesale markets could improve efficiency and resilience. CBA acted as the first third party to mint assets onto Kinexys Digital Assets and subsequently use them for repo collateral in the Digital Financing application.
“Together with J.P. Morgan, ASX, and HQLAX, our [proof-of-concept] demonstrated how tokenised assets and digital money could modernise Australia’s ~A$350bn repo market—precisely scheduling tokenised repos and settling in minutes instead of hours, using both a wholesale CBDC and CBA’s Deposit Token,” wrote Sophie Gilder, managing director for Blockchain & Digital Assets at CBA on Linked In.
“Redefining collateral mobility requires more than technology. It demands innovative spirit, shared goals and great teamwork. We are proud to have partnered with industry leaders in Project Acacia and demonstrated how digital collateral is able to fundamentally transform Australian wholesale markets,” said Richard Glen, solutions architect lead at HQLAX in a statement on the company’s Linked In page.
In addition, Commonwealth Bank built an agentic‑AI prototype on its Gravital digital assets platform — within strict guardrails and human oversight — to forecast and automate repo trades for 24/7 liquidity management, exploring the shift from “just‑in‑case” to “just‑in‑time” liquidity.