National Australia Bank Partners With Imperium Markets Exploring Tokenized Term Deposit Using Stablecoin
National Australia Bank (ASX:NAB) partnered with Imperium Markets to test the feasibility of issuing and maturing a tokenized term deposit using a stablecoin as a form of tokenized money, according to a Friday statement from the bank.Proof-of-concept transactions were undertaken on Imperium Markets' marketplace.The bank participated in Project Acacia to explore the role that the central bank and privately issued forms of digital money could play in supporting the development of wholesale tokenized asset markets.Project Acacia is a joint initiative by the Reserve Bank of Australia and the Digital Finance Cooperative Research Centre.The bank said it also participated in the Deposit Token Working Group, exploring whether a tokenized claim on a bank can be treated as a deposit under Australian law.