Northern Trust has announced a collaboration with Australia’s Commonwealth Superannuation Corporation (CSC) to explore tokenization, digital assets, and digital cash solutions.
A key goal is to investigate potential efficiencies in the investment process, which is unsurprising given Northern Trust’s major asset servicing footprint for clients like CSC. Digital cash will be an important part of the work, including tokenized deposits, “regulated settlement assets” and other digital payment solutions. The objectives include liquidity management, settlement efficiency, and interoperability between traditional financial infrastructure and digital asset ecosystems.
The memorandum of understanding builds on mutual work as part of the Reserve Bank of Australia’s Project Acacia that explored tokenization. In that initiative, Northern Trust enabled DvP settlement of tokenized carbon credits via the Northern Trust Carbon Ecosystem. CSC was one of the carbon credit investors. Swift enabled interoperability to support settlement using conventional bank money.
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