Project Acacia is a joint initiative between the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre, supported by ASIC, APRA, and the Australian Treasury, designed to explore how innovations in digital money and existing settlement infrastructure can support the development of Australian wholesale tokenized asset markets. The initiative is one of the initiatives highlighted in the Australian Government's March 2025 Statement on Developing an Innovative Australian Digital Asset Industry, and spans around 20 diverse use cases proving the potential of digital money in wholesale markets.

The initiative required enterprise-grade infrastructure capable of deploying, monitoring, and managing the distribution of a CBDC across multiple testnets simultaneously, while providing dedicated development and test environments, reliable transaction execution, event monitoring, and a consolidated operational view of CBDC token distribution across participating use cases.

Kaleido provides enterprise-grade infrastructure and digital asset capabilities to move complex use cases from concept to reality. The DFCRC leveraged Kaleido's digital asset platform to deploy, monitor, and manage the distribution of a CBDC across multiple testnets. This included providing a dedicated internal development and test environment prior to minting on external chains, establishing connectivity to chains hosting the use cases, ingesting and deploying the DFCRC custom ERC smart contract onto selected testnets, ensuring reliable transaction initiation and execution, actively listening to nominated events on chain, performing workflow tasks based on specific events to support compliance with internal controls, and providing a consolidated single operational view of CBDC token distribution.