The Reserve Bank of Australia is taking the next step in creating a new digital version of the Australian dollar.

Dubbed Project Acacia, the RBA has announced it is moving to the trial phase by getting partners on-board to try out digital coins.

Project Acacia is a joint initiative between the RBA and the Digital Finance Co-operative Research Centre (DFCRC).

The move follows a successful completion of phase 1 in August that was based on conceptual research.

Phase 2 testing is due to be completed in the first quarter of 2026.

As part of the trial, three of the four major banks and other participants will test…