The Reserve Bank and Treasury are pushing for the power to intervene in the circulation of cash if Armaguard collapses.

It comes as major banks and Australia’s largest retailers have agreed to a $25 million funding injection to keep Armaguard, which controls 90 per cent of Australia’s cash distribution, operating until the end of the year. It comes after a $50 million bailout last year.

Press PLAY below to hear Tom Elliott’s view on Armaguard’s troubles + what they could mean for Aussies

Founder of Cash Welcome, Jason Bryce, says the push by the Reserve Bank and Treasury to intervene is positive and “designates cash as an essential service”.

Press PLAY below to hear why Mr Bryce welcomes the move

Image: Supplied/Canva