Project Acacia closes with a quiet pivot: existing rails could do most of the wholesale CBDC’s job

Project Acacia concludes that Australia's existing payments and settlement infrastructure can carry most of the load a production wholesale central bank digital currency was expected to, if industry coordinates. Unsurprisingly, Australian Payments Plus, one of 13 lead industry organisations on the project, and owner of the New Payments Platform (NPP), has come to the same view.