The corporate watchdog on Thursday granted Catena Digital, now trading as Macropod Global, first-of-its-kind relief for intermediaries engaging in the secondary distribution of a stablecoin.
“As and when more issuers of eligible stablecoins obtain an AFS licence, ASIC will consider extending the above relief to intermediaries distributing those stablecoins,” ASIC said in a statement.
The first-of-its-kind relief allows intermediaries to provide services for AFS-licensed stablecoins without holding separate Australian Financial Services (AFS) market or clearing licences, provided they make the product disclosure statement available to clients.
Speaking to InvestorDaily, Digital Economy Council of Australia CEO Amy-Rose Goodey said the move does not suddenly put stablecoins into investment portfolios.
“It does not change the question of whether a coin is or is not a financial product. That bigger issue will be tested in the High Court through the Blockearner case,” Goodey said.
Zerocap’s head of sales, Mark Hiriart, said this clarity is transformative, enabling firms to streamline operations for institutional and retail clients.
“Our global clients, leveraging AUD-pegged stablecoins for payments, hedging, and DeFi, will benefit from Australia’s proactive stance, amplifying our role in bridging local innovation with cross-border demand,” Hiriart said.
“This exemption is a clear signal that stablecoins are poised to become portfolio mainstays … By simplifying distribution under AFS frameworks, ASIC enables stablecoins to act as low-volatility anchors, akin to cash equivalents, in diversified crypto portfolios,” Hiriart said.
He added that ASIC’s move is a catalyst for tokenisation at scale and lays the groundwork for assets like real estate, bonds and funds on blockchain rails.
“This means we can double down on innovation, integrating stablecoins into diverse use cases like remittances, yield farming and tokenised asset settlements, all while maintaining compliance. This fosters a more liquid ecosystem, enabling us to scale our offerings and meet the surging global demand for stablecoins from our institutional and high-net-worth clients,” he said.
Zerocap is actively developing compliant, AUD-pegged solutions to meet the growing appetite for such assets among global institutional and retail investors.
“We’re gearing up for products like stablecoin-backed ETFs by 2026,” Hiriart said.
Zerocap is one of 24 local fintechs to major banks taking part in the Reserve Bank of Australia and Digital Finance Cooperative Research Centre’s Project Acacia.
“ASIC’s exemption and the mid-2025 INFO 225 updates mark a leap forward .. our involvement in Project Acacia, testing tokenised assets, underscores ASIC’s responsiveness,” Hiriart said.
Tokenised assets are projected to reach $18.9 trillion globally by 2033.
“This isn’t just about stablecoins; it’s about building a tokenised future and we’re excited to shape it,” Hiriart said.
Macropod Global is Australia’s first licensed stablecoin issuer and secured the ASIC class order relief for downstream users of its AUDM stablecoin.
“At the moment, the relief only applies to AUDM, so it is narrower than the regimes in Europe and Singapore,” Goodey said.
“If the market wants an Australian dollar stablecoin and global players are willing to align with Australian rules, then we will see uptake.”
In a statement posted to LinkedIn, Macropod Global’s chief operating officer and general counsel, Delia Burrage, said the relief bridges the regulatory gap between current requirements and Treasury’s proposed reforms to enable wider market participation.
“ASIC’s decision responds to industry feedback on the cost and compliance burden of existing licensing requirements and acknowledges the need for a flexible approach while government payment services and digital asset reforms are developed,” Burrage said on social media.
Intermediaries benefiting from this relief must make the exempt stablecoin’s product disclosure statement available to their clients and the relief will take effect once registered on the Federal Register of Legislation.
ASIC said the move was an important step in facilitating growth and innovation in the digital assets and payments sectors.
“When more issuers of eligible stablecoins obtain an AFS licence, ASIC will consider extending the above relief to intermediaries distributing those stablecoins,” a statement said.
