"Tokenised forms of money, such as stablecoins and tokenised liabilities, are moving from experimentation to adoption," the draft states.
Crypto News
Australia's payments system planners are weighing how stablecoins and tokenized fiat money could be integrated into the country's domestic account-to-account infrastructure, according to a draft vision released for public consultation.
The document was co-developed by the Account-to-Account Payments Roundtable, a working group that includes AusPayNet, Australian Payments Plus, the Reserve Bank of Australia (RBA), and the Commonwealth Treasury. It identifies digital assets as one of several external forces that could influence how future payment rails are designed and operated.
"Tokenised forms of money, such as stablecoins and tokenised liabilities, are moving from experimentation to adoption," the draft states. It adds that this shift points toward programmable, ledger-based value that could support new settlement models, continuous availability, and more automated execution of payments.
The consultation paper says account-to-account systems "may need to support secure interoperability between account-based money and tokenised representations of fiat currency." This would allow funds to move reliably between traditional and tokenized environments while preserving trust across both systems.
The draft also flags risks that accompany these technologies, including new challenges around accountability, liability, data use, and system resilience. Regulators and industry will need to address these as tokenized money moves closer to mainstream infrastructure.
The A2A consultation builds on ongoing work by the RBA in the tokenized money space. In July 2025, the RBA and the Digital Finance Cooperative Research Centre announced selected use cases for Project Acacia, a wholesale digital money initiative exploring settlement in tokenized asset markets. Proposed settlement assets under that project include stablecoins, bank deposit tokens, a pilot wholesale central bank digital currency, and new uses of banks' existing exchange settlement accounts at the RBA.
RBA Assistant Governor Brad Jones said in March that the next phase of financial system innovation would require moving beyond short-term pilots toward longer-term, staged environments where industry and regulators can test technologies and adjust policy. He flagged the interaction between wholesale CBDC, bank deposit tokens, and stablecoins, as well as the synchronization of tokenized asset ledgers with Australia's settlement infrastructure, as key areas of interest.
Australia also moved last November to bring parts of the digital asset sector into its financial services framework, with the Treasury proposing two new financial product categories, digital asset platforms and tokenized custody platforms, both of which would require an Australian Financial Services Licence.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
