Aussie bank Takes Next Step to AUD Stablecoin
Australia and New Zealand Banking Group is nearing the launch of its stablecoin A$DC after successfully executing a test transaction on Chainlink’s Cross-Chain Interoperability Protocol.
ANZ has completed a test transaction to simulate the purchase of a tokenised asset, facilitated using A$DC and an ANZ-issued NZ-dollar-denominated stablecoin. The bank is actively exploring the use of decentralised networks through a ‘test-and-learn’ approach.
Nigel Dobson, ANZ’s banking services portfolio lead, believes that tokenizing real-world assets like the Australian dollar could potentially transform the banking industry. ANZ minted the first A$DC stablecoin in March 2022, becoming the first Australian bank to do so. National Australia Bank followed a year later with its AUDN stablecoin on Ethereum. The bank sees “real value” in tokenizing real-world assets like the Australian dollar.
(With inputs from Shikha Singh)
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