ASIC confirms licensing relief to ease distribution of certain stablecoins and wrapped tokens in Australia

The Australian Securities and Investments Commission has approved class relief that removes separate Australian Financial Services licensing requirements for intermediaries distributing certain stablecoins and wrapped tokens. The measures also permit the use of omnibus account structures, which industry participants say will lower costs, improve efficiency and support broader real-world stablecoin use cases. The shift comes as global stablecoin market capitalization exceeds $300 billion.