24 April 2026
NAB is actively exploring how digital assets can deliver value to customers through collaboration with our partners.
Digital assets cover a broad range of capabilities, ranging from tokenised forms of money, including stablecoins, central bank digital currencies and bank issued deposit tokens, to tokenised assets such as bonds, term deposits, equities and other financial instruments.
NAB was pleased to participate in Project Acacia - a joint initiative by the Reserve Bank of Australia (RBA) and the Digital Finance Cooperative Research Centre (DFCRC) designed to explore the role that the central bank and privately issued forms of digital money could play in supporting the development of wholesale tokenised asset markets.
NAB partnered with Imperium Markets to test the feasibility of issuing and maturing a tokenised term deposit using a stablecoin as a form of tokenised money. A number of proof-of-concept transactions were undertaken on Imperium Markets’ ASIC-licensed marketplace.
NAB also participated in the Deposit Token Working Group, which explored whether a tokenised claim on a bank can be treated as a deposit under Australian law.
Emerging digital asset solutions like stablecoins, deposit tokens and securities have the potential to offer improved efficiencies and user experience. Equally these new technologies introduce a new set of risks and considerations. Initiatives like Project Acacia enable all participants in the ecosystem to collaboratively explore these topics, enabling us to develop pathways to scaling and delivering real benefits to our customers.
NAB Executive Enterprise Payments and Digital Assets, Jonathan Adams said NAB was taking a customer-led approach to digital assets.
“We’re approaching digital assets in the same way we approach everything – by responding to customer demand and innovating to solve customer challenges,” Mr Adams said.
“We balance innovation with careful consideration of the risks to make sure we are always prioritising consumer protection and ecosystem stability.”
NAB Group Executive Corporate and Institutional Banking, Cathryn Carver, said the bank valued the opportunity to collaborate on this project.
“NAB has been delighted to be involved in Project Acacia. Emerging technologies like digital assets have the potential to offer improved efficiencies and user experience, and it has been great to work with our customers and partners to collaboratively explore these opportunities together.” Ms Carver said.
Imperium Markets Chair, Rod Lewis, sees the potential of tokenisation to deliver greater transparency and efficiency.
“I have worked in money and bond markets for more than 40 years. I have never seen capital flow this quickly through multiple transactions. What would have taken days, took minutes,” Mr Lewis said.
