Australia's CBDC Officially Deployed on XRP Ledger and Hedera, Project Acacia Completes Pilot

Bittime - The Reserve Bank of Australia (RBA) and the Digital Finance CRC (DFCRC) released the final Project Acacia report in May 2026.

The project issues a native wholesale CBDC (wCBDC) that is used to settle direct trades of tokenized assets across various blockchain networks, including the XRP Ledger and Hedera.

This move makes Australia one of the first central banks to actually implement a CBDC on a public blockchain for real-world settlement.

Here are the complete details.

Key Takeaways

• RBA issues original wCBDC – Not just a simulation. This CBDC represents a real legal claim on the RBA and can be redeemed upon project completion.

• XRP Ledger is used for government bond settlement – Zerocap sorts the full cycle of Australian bonds with settlement using Ripple's RLUSD stablecoin.

• Hedera large-scale token interchange trial – AP+ uses Hedera for tokenized currency exchange between institutions.

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What is Project Acacia?

Project Acacia is a hands-on research program run by the RBA and the DFCRC. The project tests a wholesale CBDC (wCBDC) that represents a tangible legal claim on the RBA, is denominated in Australian dollars, and is redeemable at the end of the project.

The DLT platforms tested include Canvas Connect, Ethereum, Hedera, Redbelly Network, and XRP Ledger.

Participants include domestic and international banks, fintech companies, custodians, fund managers, exchanges, and stablecoin issuers.

The assets tested are very diverse: government bonds, corporate bonds, private credit, asset-backed securities, repos, carbon credits, and mining royalties.

Read also:When's the Best Time to Buy XRP? Here's an XRP Price Analysis!

XRP Ledger Australia CBDC

XRP Ledger played a key role in Project Acacia. Zerocap, one of the participants, piloted a full-cycle Australian government bond tokenized as a digital twin on a public network.

This cycle includes primary issuance, secondary trading, redemptions, central limit order book, and automated market maker, all completed byRLUSD, stablecoin Ripple.

JPMorgan acts as custodian. This is clear evidence that the XRP Ledger is capable of meeting the compliance requirements, asset structure, and settlement finality required by the wholesale market.

Previously, the European Central Bank (ECB) had also explored XRP for a wCBDC pilot.

This RBA move further strengthens the XRP Ledger's position in global finance.

Read also:What is XRP Coin: Definition, History, and Differences from Ripple

CBDC Australia by Hedera

Hedera This project is also in the spotlight. Australian Payments Plus (AP+) is piloting an interchange service on a public network that facilitates the exchange of various forms of tokenized money, including stablecoins and deposit tokens, using rules captured in smart contracts.

Hedera is used in two modes: public-permissioned Hedera and private-permissioned Hedera HashSphere.

The digital twin of a wCBDC serves as an interchange asset on a public network, while the underlying wCBDC resides on a private network.

This demonstrates Hedera's flexibility to handle large scale while maintaining regulatory compliance.

What Does This Mean for XRP and Hedera?

XRP Ledger's participation in the officially documented RBA program places the network's institutional credentials on the public record.

XRP Ledger has proven capable of processing the life cycle of government bonds with a custodian of the caliber of JPMorgan.

As noted by crypto analyst SMQKE, "Public ISO 20022-compliant blockchains just passed a central-bank test in Australia's wholesale markets." Project Acacia's official report speaks for itself.

For Hedera, this project demonstrates the network's ability to handle large-scale token exchanges between financial institutions. This is a significant step forward for enterprise adoption.

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Conclusion

Australia's CBDC has been officially deployed on XRP Ledger and Hedera through Project Acacia. The RBA isn't just running a simulation; they're issuing a real wCBDC and using it to settle real-world tokenized asset trades.

XRP Ledger is used for the full lifecycle of government bonds, with RLUSD settlement and JPMorgan custody. Hedera is used for large-scale tokenized currency interchange between institutions.

This is a major development for public blockchain adoption in the traditional financial sector, and proof that XRP Ledger and Hedera are ready for large-scale institutional use.

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FAQ

What is Project Acacia?

The RBA's research program issues a native wholesale CBDC for the settlement of tokenized asset trades across various blockchain networks.

Which blockchains are tested?

Canvas Connect, Ethereum, Hedera, Redbelly Network, dan XRP Ledger.

What is the role of XRP Ledger in this project?

Zerocap is piloting a full-cycle Australian government bond settlement using Ripple's stablecoin RLUSD. JPMorgan is acting as custodian.

What is Hedera's role in this project?

Australian Payments Plus is testing a service interchange for large-scale tokenized currency exchange using Hedera.

What is wCBDC?

Wholesale CBDC, which is a CBDC used for transactions between banks and financial institutions, not for the general public.