A consortium led by Wisr Limited has launched a pilot demonstrating how tokenisation can streamline the structuring and issuance of asset-backed securities, as part of the Reserve Bank of Australia and Digital Finance CRC’s Project Acacia. The initiative aims to explore how forms of digital money and new market infrastructure could support tokenised wholesale asset markets in Australia.
The Smart ABS Pilot, developed by digital asset specialist NotCentralised, will test the creation and management of a tokenised asset-backed security by building a digital twin of Wisr’s recently closed AUD$250 million Wisr Freedom Trust 2025-1. The trust is backed by a pool of personal loans originated and serviced by Wisr. The pilot will model how tokenisation, smart contracts and programmable cash flows can automate and optimise processes across the full lifecycle of an ABS, including structuring, issuance, reconciliation and investor reporting.
Wisr Chief Executive Officer Andrew Goodwin said the pilot highlights the potential for digital infrastructure to modernise capital markets. “Tokenisation can improve the transparency, liquidity and efficiency of capital markets. Wisr is excited to be part of this pilot as we work with our project partners to build and deploy a digital twin of our recently closed AUD$250 million Freedom Trust. We’re showcasing how digital infrastructure can directly strengthen institutional finance and open the opportunity of increased benefits to our customers, shareholders and funders.”
The consortium includes:
- NotCentralised, acting as lead structurer and financial engineer for the tokenised ABS.
- Redbelly Network, providing deterministic, high-performance blockchain infrastructure and the only public chain globally to transact natively issued central bank money in a regulated pilot.
- AMAL, part of IQ-EQ, supplying trustee and fiduciary oversight as a key bridge between legal enforceability and digital execution.
NotCentralised CEO and Co-founder Arturo Rodriguez said the work represents a major step in institutional tokenisation. “Enhancing the anti-fragility of debt markets by securely compressing the time to deal is at the heart of the design of this transaction and at the core of financial innovation.”
Redbelly Network Executive Chairman Alan Burt said ABS structures are an ideal proving ground for tokenisation. “The intricate payment waterfalls, inter-system reconciliations and multi-party dependencies have traditionally limited transparency and liquidity. By embedding these rules directly on-chain, tokenisation can streamline operations and enable more dynamic secondary markets.”
AMAL Chief Product Officer Luke Andersen added that the pilot demonstrates how trustees can play an essential role in bridging digital and legal frameworks. “We are showcasing how digital asset infrastructure can benefit scale, automation and new market opportunities. Importantly, how it can all live comfortably on the blockchain.”
The Smart ABS Pilot is now underway, with first results expected in the first quarter of 2026.
