Australian banks band together to improve repo market
14 July 2025 Australia
Image: VisualProduction/stock.adobe.com
The Commonwealth Bank of Australia (CBA) has joined the Reserve Bank of Australia (RBA) and Digital Finance Collaborative Research Centre (DFCRC) project.
The group of institutions aim to research domestic wholesale tokenised asset markets with the objective of making significant improvements to the US$350 billion repo market.
The RBA has chosen CBA, J.P. Morgan, the Australian 网爆吃瓜 Exchange (ASX), and HQLAX as part of Project Acacia.
Sophie Gilder, CBA鈥檚 managing director of blockchain and digital assets, says: 鈥淲e鈥檙e very pleased to bring together globally recognised digital asset leaders and critical financial markets infrastructure providers to explore how digital currencies and tokenisation can ensure the global competitiveness of Australia鈥檚 financial markets.
鈥淭he repo market, with its critical role in liquidity management and monetary policy implementation, represents an ideal starting point for this exploration.鈥�
According to the CBA, the project will evaluate how digital currencies and digital collateral records could deliver greater efficiency and liquidity with lower risk in the repo market.
It will use Kinexys Digital Assets, J.P. Morgan鈥檚 multi-asset tokenisation platform, CBA鈥檚 Digital Assets platform, the HQLAX collateral mobility solution, and the expertise of ASX.
Bianca Bates, head of J.P. Morgan Payments in Australia and New Zealand, adds: 鈥淲e are pleased to join with CBA, ASX, and HQLAX to explore how Kinexys, J.P. Morgan's blockchain business unit, can contribute to the efficiency of Australia鈥檚 financial markets.
鈥淎s one of the first bank-led blockchain platforms, we have delivered many industry firsts, from programmable payments for corporate clients to instant settlement between US dollars, euros, and British sterling. Since inception, Kinexys has processed over US $2 trillion in transaction volume.鈥�
The group of institutions aim to research domestic wholesale tokenised asset markets with the objective of making significant improvements to the US$350 billion repo market.
The RBA has chosen CBA, J.P. Morgan, the Australian 网爆吃瓜 Exchange (ASX), and HQLAX as part of Project Acacia.
Sophie Gilder, CBA鈥檚 managing director of blockchain and digital assets, says: 鈥淲e鈥檙e very pleased to bring together globally recognised digital asset leaders and critical financial markets infrastructure providers to explore how digital currencies and tokenisation can ensure the global competitiveness of Australia鈥檚 financial markets.
鈥淭he repo market, with its critical role in liquidity management and monetary policy implementation, represents an ideal starting point for this exploration.鈥�
According to the CBA, the project will evaluate how digital currencies and digital collateral records could deliver greater efficiency and liquidity with lower risk in the repo market.
It will use Kinexys Digital Assets, J.P. Morgan鈥檚 multi-asset tokenisation platform, CBA鈥檚 Digital Assets platform, the HQLAX collateral mobility solution, and the expertise of ASX.
Bianca Bates, head of J.P. Morgan Payments in Australia and New Zealand, adds: 鈥淲e are pleased to join with CBA, ASX, and HQLAX to explore how Kinexys, J.P. Morgan's blockchain business unit, can contribute to the efficiency of Australia鈥檚 financial markets.
鈥淎s one of the first bank-led blockchain platforms, we have delivered many industry firsts, from programmable payments for corporate clients to instant settlement between US dollars, euros, and British sterling. Since inception, Kinexys has processed over US $2 trillion in transaction volume.鈥�
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