Australia Starts Research Program to Explore Digital Asset Opportunities

The Assistant Treasurer and Minister for Financial Services Stephen Jones officially started the program Monday at the Australian Securities Exchange.

AccessTimeIconAug 30, 2022 at 9:45 a.m. UTC
Updated May 11, 2023 at 4:49 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Twenty-five prominent institutions in Australia have come together to start a research program to benefit from the opportunities arising from asset digitization.

The Digital Finance Cooperative Research Center (DFCRC) is a 180 million Australian dollar (US$124.3 million) program, funded by industry partners, universities and the Australian Government. The 10-year long program will have 25 partners from the finance, academia and regulatory sectors, including the central bank.

Australian central bank governor Philip Lowe was present at the inauguration, along with Paul O’Sullivan, chairman of Australia and New Zealand Banking Group Ltd (ANZ). Earlier this month, the Australian central bank entered into a collaboration with the DFCRC to explore use cases for a central bank digital currency (CBDC).

On Monday, Assistant Treasurer and Minister for Financial Services Stephen Jones officially launched the DFCRC at the Australian Securities Exchange.

"We want to get the regulation right because we want to ensure the guardrails are sufficiently wide to enable innovation to occur within a safe ecosystem,” Jones said.

ANZ's Sullivan noted this is a frontier opportunity in which a tokenized carbon exchange could lead to market efficiency.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Amitoj Singh

Amitoj Singh is a CoinDesk reporter.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.