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ANZ Bank Completes Carbon Credit Trading Use-Case in Australia's CBDC Pilot

ANZ Bank has completed the first carbon credit trading use-case as part of Australia's central bank digital currency (CBDC) pilot, in partnership with Grollo Carbon Ventures.

The pilot, run by the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre, aims to explore use cases for a CBDC. ANZ tested real-world Australian Carbon Credit Units (ACCUs) by tokenizing them and then using its own stablecoin (A$DC) to purchase them. The use of tokenization in carbon markets can reduce settlement time and incentivize investment in climate solutions.

The RBA has announced a series of projects to test use cases for its CBDC, with partners for the pilot projects including Mastercard, Monoova, the Australian Bond Exchange, DigiCash, Commonwealth Bank, and others.

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