Stablecoins, tokenisation and infrastructure. The communications playbook for Australia’s next digital assets chapter.

With the Federal Government having implemented their initial tranche of digital asset regulation in April 2026 and the global market for tokenised assets already surpassing US$30 billion, the discussion has moved onto what else is needed to support the growth of the industry. The next phase of debate is moving beyond how digital assets are traded and held, towards how they function within the broader established financial system.

Part three of our series on digital assets explores three key areas that will define the next stage of reform: bespoke stablecoin legislation, the rise of tokenised assets and growing investment in financial market infrastructure underpinned by digital assets.

1. Bespoke stablecoin legislation

While elements of stablecoin activity can be captured under existing payments and financial services frameworks, those regimes were not designed with digital money in mind. This creates ongoing uncertainty around classification, oversight and how these instruments should be positioned within the financial system.

Encouragingly, there are clear signals that policymakers are beginning to address this gap. Based on Honner’s discussions with regulators, clients and industry partners, the Australian Government has already alluded to plans for a bespoke stablecoin framework through legislation.

Stablecoins are increasingly viewed not as speculative crypto assets, but as purpose-built financial instruments that facilitate payments, settlement and liquidity in digital environments.

Creating a tailored framework would allow stablecoins to be regulated according to their function, particularly payment stablecoins, while establishing clear expectations for issuers. This includes a strong reserve backing, enforceable redemption rights, segregation of customer assets and robust governance standards.

We expect this discussion to move quickly, so it’s important for spokespeople to be seen as a leader, rather than a follower, to help guide regulators in creating a fit-for-purpose framework to support the industry.

This also creates an opportunity for real thought leadership around what parameters the framework needs to encourage innovation and growth without creating an unnecessary burden on businesses.

2. The rise of tokenised assets

Our client, Crypto.com, has identified that the global market for tokenised assets has now surpassed US$30 billion, reflecting growing institutional participation and the expansion of real-world use cases across multiple asset classes. What was once seen as experimental is increasingly becoming part of how assets are issued and managed.

Tokenisation has the potential to modernise financial markets by improving efficiency, reducing operational complexity and increasing transparency. It also enables new capabilities, including fractional ownership, programmable asset features and faster settlement processes.

Tokenised assets bring familiar questions around licensing, custody and investor protection, but they also introduce new challenges tied to legal enforceability, interoperability and the recognition of digital registers. As adoption grows, ensuring that tokenised markets can operate alongside existing infrastructure will become increasingly important.

The task for policymakers will be to provide clarity without constraining innovation. This will require frameworks that acknowledge the unique characteristics of tokenised assets, rather than simply applying legacy rules to new technology.

In the Australian market, no single company has been widely seen as a leader in championing the benefits of tokenisation or influencing the policy debate. The companies best placed to fill that gap are those already operating in the space, as their practical experience of what works, what the regulation misses and what investors are actually asking is more persuasive than any general argument.

3. Investment in digital asset-backed financial market infrastructure

The growth of stablecoins and tokenised assets is part of a broader shift in financial market infrastructure.

Today’s financial architecture relies on delayed settlement cycles, fragmented systems and multiple intermediaries. Digital assets present an opportunity to move towards more integrated, real-time and programmable infrastructure.

Stablecoins can provide the settlement layer, enabling digital money to move continuously. Tokenised assets can represent the instruments being traded. Together, they create the conditions for markets where issuance, trading and settlement occur within unified, always-on environments.

Globally, there is increasing focus on building infrastructure that can support digital assets alongside traditional finance. The Bank for International Settlements has been running multi-central bank digital settlement experiments and domestically, the structural pressure behind the ASX’s CHESS replacement program reflects the same shift. Tokenised securities platforms and on-chain settlement systems are moving from pilots to production.

With a range of new innovations expected for the digital assets industry in the next 12-24 months, companies and spokespeople need to be across the news cycle and looking at how they can take advantage of it. This includes being readily available to comment on market developments, policy decisions and product innovations that impact the industry.

Your opportunity to be a leader

From a communications and policy perspective, this next phase presents a clear opportunity to lead the next evolution of the digital assets industry as an active participant in shaping the agenda to ensure that the government and industry are doing everything they can to support this growth.

As frameworks and innovations in stablecoins, tokenisation and digital asset-backed infrastructure evolve, there is value in engaging early with policymakers, media and industry peers to articulate real-world use cases and bring down barriers to adoption.

The organisations that move early – with a clear point of view, credible spokespeople and a sustained presence across policy, media and industry forums will define the conversation. Those that wait will join it.

For digital assets businesses looking to build a clearer market identity, Honner can develop a tailored communications strategy playbook across messaging, thought leadership, media, events and leadership visibility – helping build recognition with the audiences that matter in Australia. To discuss, contact Jared Wright, Account Director at Honner jared@honner.com.au