Project Acacia Final Report Maps Australia’s Path to Tokenized Wholesale Finance — 2026-05-26

## Short Segments LI.FI expands its execution infrastructure, targeting fintechs and neobanks with new capabilities for stablecoin payments and tokenized assets. Hong Kong advances its regulatory framework for virtual asset advisory and management services, aiming for a 2026 legislative target. In a significant move, Tether partners with Georgia to launch the GELT stablecoin, marking a new phase in national currency tokenization. Finally, the UK sanctions HTX, a major crypto exchange, for allegedly supporting Russia, expanding its cryptoasset-focused sanctions. LI.FI expands execution infrastructure for stablecoin payments and real-world assets. LI.FI has announced a strategic expansion of its execution infrastructure, aiming to streamline stablecoin payments and facilitate transactions involving tokenized real-world assets. This initiative primarily targets fintech companies, neobanks, digital wallets, and regulated financial institutions that require efficient cross-chain transaction capabilities. The newly introduced architecture, known as LI.FI Intents, serves as a production intent-based execution framework, enabling predictable outputs and configurable compliance controls without gas friction. By enhancing cross-chain execution, LI.FI aims to provide a seamless payments product experience, which could significantly benefit financial firms looking to integrate decentralized finance workflows. This development underscores the growing demand for robust infrastructure that can support the evolving needs of digital finance ecosystems. Hong Kong advances virtual asset advisory and management rulemaking. Hong Kong is moving forward with plans to license crypto advisers and managers under new anti-money laundering rules, targeting a 2026 legislative implementation. The Financial Services and the Treasury Bureau, along with the Securities and Futures Commission, have published consultation conclusions on the legislative proposal. The proposed licensing regimes received broad market support, reflecting a strong consensus on the need for regulatory clarity in the virtual asset space. These measures aim to align Hong Kong's regulatory framework with international standards, ensuring that virtual asset service providers operate under the same business principles as traditional financial institutions. This regulatory push highlights Hong Kong's commitment to fostering a secure and compliant environment for digital asset management. Tether and Georgia launch GELT stablecoin initiative. Tether, in collaboration with the Government of Georgia, has announced the launch of GELT, a stablecoin representing the Georgian Lari. This initiative marks one of the first efforts to place a national currency directly onto digital asset rails under a purpose-built stablecoin regulatory framework. The GELT stablecoin aims to facilitate seamless digital transactions and enhance financial inclusion within Georgia. As governments and central banks globally begin to confront the structural shift in how money moves, this partnership underscores Georgia's ambition to establish itself as a crypto hub aligned with U.S. regulations. The launch of GELT could pave the way for other nations to explore similar digital currency initiatives, potentially transforming the landscape of national currency management. UK sanctions HTX over support of Russia in broad sweep over crypto exchanges. The United Kingdom has sanctioned HTX, a major crypto exchange, accusing it of supporting the Russian government. This move is part of the UK's most expansive cryptoasset-focused sanctions package to date, targeting entities accused of enabling sanctions evasion through cryptocurrency channels. The sanctions apply Regulation 17A of the Russia (Sanctions) (EU Exit) Regulations 2019 to cryptoasset exchanges, expanding compliance obligations on UK virtual asset service providers. This action reflects the UK's intensified efforts to clamp down on illicit finance networks exploited by Russia to circumvent sanctions. For digital asset firms, this development signals a heightened regulatory environment, necessitating stricter compliance measures to avoid potential sanctions. ## Feature Story Project Acacia's final report maps Australia's path to tokenized wholesale finance. The Reserve Bank of Australia and the Digital Finance Cooperative Research Centre have released the Project Acacia final report, concluding a multi-year research effort into digital money's potential to enhance wholesale asset markets. This initiative, conducted alongside the Council of Financial Regulators, explored 20 use cases, including fixed income, managed funds, and carbon credits, with 12 running as live pilots. The findings highlight tokenization's potential to boost efficiency and resilience in Australia's wholesale markets, but also point to coordination gaps and legal ambiguities. In response, the RBA is launching a multi-stream program, including a regulatory sandbox and a tokenized government bond initiative. Hedera's HashSphere played a crucial role in enabling regulated private settlement environments during the project. This initiative not only underscores the transformative potential of tokenization but also signals a broader shift towards integrating digital asset infrastructure into traditional financial systems. As Australia navigates these changes, the focus will be on addressing regulatory challenges and fostering collaboration among stakeholders to fully realize the benefits of tokenized finance. Looking ahead, the success of these initiatives could serve as a model for other countries exploring similar digital finance transformations.