ANZ unveils first ever Australian bank-issued stablecoin

ANZ bank completes Australian CBDC use case for carbon credit trading

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The first Australian dollar-backed stablecoin was used with Australian CBDC support to trade carbon credits with Grollo Carbon Ventures. 946 Total views 8 Total shares Own this piece of history Collect this article as an NFT Australia and New Zealand Banking Group (ANZ) has completed its use case in the pilot project run by the Reserve Bank of Australia (RBA) and Digital Finance Cooperative Research Centre using central bank digital currency (CBDC). ANZ partnered with Grollo Carbon Ventures (GCV) to trade carbon credits. ANZ tokenized Australian Carbon Credit Units (ACCUs) and GCV used its A$DC stablecoin to trade carbon credits on a public, permissionless blockchain. Settlement occurred “in near real-time via ANZ smart contracts,” the bank said. Australian CBDC was used to back A$DC. ANZ banking services lead Nigel Dobson said: “When applied to carbon markets, tokenisation has the potential to improve efficiency and transparency, reduce risk and preserve the unique characteristics of underlying projects to incentivise investment in climate solutions.” This was the first of three Australian CBDC pilot use cases in which ANZ will participate. It will also be involved in use cases for offline payments and pension fund payments, which are among the 14 use case projects the RBA announced in March. Besides the three projects, ANZ will also be involved in distributing the CBDC. Related: Putting carbon credits on blockchain won’t solve the problem alone: Davos A$DC premiered in March 2022 as the first Australian dollar-based stablecoin issued. It was used in June in an ACCU trade between the Victor Smorgon Group and Zerocap. ANZ Bank Goes FULL STEAM AHEAD with their ‘Central Bank Digital Currency’ Program, Prepare For a Social Credit System. pic.twitter.com/q3MwCs9rpa — Australians vs. The Agenda (@ausvstheagenda) March 31, 2023 The second Australian bank-issued stablecoin was the AUDN, issued by National Australia Bank with carbon credit trading specifically in mind. That coin was used in the first-ever cross-border stablecoin transaction in March. Pro-crypto Australian Senator Andrew Bragg introduced legislation to regulate stablecoin and cryptocurrency services as a private bill (one not introduced by a government minister) in March. He had released a draft of the bill in September. The RBA published a white paper on stablecoins and their regulation in December. Magazine: Green consumers want supply chain transparency via blockchain

Big bank ANZ minted their first stable coin in a test transaction..Australia is moving fast in the space of cryptocurrency and related technology.

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Our new guest on Waves in the Finovese is David Buckthought, Head of Technology at ANZ Bank. David works right at the intersection of the two worlds and helps us understand more about first Aussie dollar #stablecoin at one of Australia’s largest banks. If you are not deep into #crypto, David also explains the difference between a stablecoin and #cbdc.

Listen to:
Apple podcast – https://fnvr.se/applepodcast_ANZ
Spotify – https://fnvr.se/spotify_ANZ

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Australian Bank ANZ launches an AUD pegged stablecoin, Yield Protocol adds support for fixed rate ETH lending, XCOPY raises over $20 million from an open edition NFT, and Ramp Network supports purchases for ETH on Arbitrum.

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