Australia’s central bank said on Thursday it’s moving to its next stage in exploring digital currencies, launching a trial on how digital money and tokenization can support wholesale financial markets. 

The Reserve Bank of Australia (RBA) said in a statement on Thursday that stablecoins, bank deposit tokens and a pilot wholesale central bank digital currency (CBDC) will be used by partners participating in the trial.

The trial is phase two of Project Acacia, a joint initiative from the RBA and the Digital Finance Cooperative Research Centre announced in November last year.

A diverse range of organizations, from local fintech to major banks, have been selected to test 24 use cases, 19 of which will involve real money and five…