[Reserve Bank of Australia Governor: RBA is studying how its settlement infrastructure can adapt to new digital currencies] According to Bloomberg, Michele Bullock, Governor of the Reserve Bank of Australia (RBA), emphasized that policymakers, governments, and industries are driving the modernization of the national payment system, focusing on four key areas while stressing security. She believes that innovation and resilience should complement each other, and the RBA is collaborating with various parties for the benefit of the public. The primary task is to upgrade inter-account payment infrastructure, starting with the large-value electronic settlement system. While this system is reliable and cost-effective, it lacks modern features such as 24/7 real-time processing, which the "New Payments Platform" can address. A roundtable discussion involving the RBA and other stakeholders plans to establish a vision for alternative solutions by the end of this year, with an implementation plan set for mid-2026. During this period, considerations will include costs, traditional systems, and user priorities. The second focus is enhancing cross-border payments to make international transfers more efficient and transparent. The third is combating fraud and scams, requiring continuous innovation, such as migrating card systems to advanced encryption standards to counter quantum computing threats. Lastly, strengthening operational resilience is crucial. The RBA is studying how inter-system connections may exacerbate failures and how its own settlement infrastructure might need to adapt to new digital currencies, including central bank digital currencies (CBDCs). Additionally, the central bank will ensure the circulation of cash. The decline in cash usage has prompted regulators to consult on new rules.