- A new draft vision from Australia’s payments leaders suggests account-to-account systems may need to evolve to support stablecoins and tokenised fiat as digital assets gain traction.
- The report highlights interoperability, automation, and security as key priorities in enabling seamless movement between traditional bank money and tokenised forms
The Reserve Bank of Australia (RBA) is calling for input on a new vision for the systems that underpin direct bank transfers, recognising the growing need to support new technologies including digital IDs, digital wallets, and stablecoins.
A public consultation on a draft vision for how Australia’s Account-to-Account (A2A) payments systems should be developed was released on April 30. Australians can have a say by making a submission via A2Avisionconsultation@auspaynet.com.au before May 22, 2026.
The draft vision outlines that creating an A2A payments system that is “flexible and extendable to be able to cater for different payment types and use cases over time, e.g., in-app payments and digital wallet funding” is a must.
It also notes: “The system should be able to integrate with new emerging technologies such as digital assets.”
Digital assets are “expected to become a parallel value layer”, according to the draft vision, which would require Australia’s A2A systems to provide interoperability between account-based money and tokenised money like stablecoins.
Related: Australia Establishes First-Ever Digital Asset Regulatory Framework
Emerging Tech to Influencing the Future of A2A Payments
“Developments in artificial intelligence, digital identity, digital wallets and digital assets are beginning to influence how payments are initiated, authorised and managed,” the draft vision states.
As these technologies develop and scale, they will reshape payment behaviours and introduce new strategic, operational risks, particularly around accountability, liability, data use and resilience.
Account-to-Account Payment Systems draft vision
Future integration with major digital wallets is also suggested, noting the need to offer “frictionless account linking, strong authentication, and clear authorisation, portability and user controls.”
Related: Banking Woes Rise as Record One-Third of Australians Invest in Digital Assets
Public submissions on the draft vision will be used to help the RBA and other members of its A2A Payments Roundtable to refine and finalise its vision and industry roadmap. The Roundtable includes the RBA, Commonwealth Treasury, Australian Payments Network, and Australian Payments Plus.
Developing an industry roadmap for implementing the vision is expected to happen in 2026, with execution of the roadmap to start in 2027.
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