After Acacia: Australia's tokenisation moment has arrived

The RBA’s Project Acacia findings landed last week with a clear message: tokenisation in Australia is no longer a question of if, it is a question of how. That is a meaningful shift, and one that BTC Markets has been building toward for some time.

Before I get into the detail, I want to acknowledge Paul Stonham, our Chief Commercial Officer, who is a member of the Project Acacia Advisory Group. Paul's involvement reflects our commitment to being at the table where these conversations are happening, not just watching from the outside. Having a regulated exchange represented in that process, matters.

What the report makes clear

A few things from the Project Acacia findings stand out to me.

Regulatory coordination between the regulatory agencies and industry stakeholders is gaining real momentum, and that alignment is what unlocks institutional investment and builds the confidence to participate at scale. For too long, legal and regulatory uncertainty has been one of the primary reasons institutions have held back. The direction coming out of Acacia suggests that barrier is being addressed deliberately and with genuine cross-agency commitment.

Stablecoins also have a clearer role within the system now, sitting alongside bank deposit tokens and existing infrastructure in a way that feels practical rather than theoretical. That clarity is important. It gives businesses like BTC Markets a more defined environment to build within, and it gives institutional participants a clearer picture of how digital money fits into the broader financial ecosystem.

The DFCRC estimates that tokenisation could deliver up to A$24 billion in annual gains for the Australian economy. That number gets larger still if new markets emerge. The opportunity is significant, but it will only be realised through deliberate, coordinated effort.

The Team Australia point matters

RBA Assistant Governor Brad Jones used the phrase "Team Australia" in his address, and it resonates. This work depends on regulators, banks, fintechs, and exchanges moving in the same direction. No single institution can unlock this alone.

BTC Markets looks forward to engaging with the Regulator-Industry Tokenisation Advisory Group and the forums the RBA is establishing. Regulated exchanges bring an important perspective to that table. We understand the retail and institutional investor experience, the compliance requirements, and the operational realities of running digital asset infrastructure at scale. Our ongoing work with ASIC on our markets licence application is a direct expression of that commitment and central to how we are building for what comes next.

Australia has done this before

Polymer banknotes. Superannuation. The New Payments Platform. Australia has a track record of coordinated financial innovation that scales and endures. None of those achievements happened overnight, and none happened without sustained commitment from both the public and private sectors.

Tokenisation of assets and money can be the next chapter in that story. The RBA has signalled clearly that it intends to build the runway. BTC Markets intends to be part of building what runs on it.

The pilots are behind us. The question now is execution.

Read the full speech: https://www.rba.gov.au/speeches/2026/sp-ag-2026-03-25.html

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