Payment System Modernisation


Authors: Michael Bacina, Steven Pettigrove, Jake Huang

Service: Blockchain | FinTech
Sector: Financial Services | IT & Telecommunications

Piper Alderman is pleased to provide a submission on Treasury’s consultation on regulating payment stablecoins. The consultation forms part of a broader reform proposal intended to modernise Australia’s payments system.

Payment stablecoins have strong use cases in cross-border remittance and payment applications, and enable broader digital innovation by allowing users to own and exchange value in a digitally native and stable asset. Regulating payment stablecoins has the potential to foster broader innovation in digital finance by giving businesses and consumers confidence to adopt and use stablecoins more widely.

You can find the full text of the submission below.