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ANZ The First Bank To Mint An Australian Dollar Stablecoin
ANZ mints first Australian Dollar pegged stablecoin, placing Australia at the center of digital asset innovation.
Harshvardhan
8:50 24th Mar, 2022
Altcoins

Australian banks are in a race to deliver Aussie Dollar pegged stablecoins. Alongside Australia and New Zealand Banking Group (ANZ), the National Bank of Australia (NAB) has also embarked on its stablecoin project.

ANZ appears to be ahead of the curve, with the Big-4 Aussie bank becoming the first to mint an Aussie Dollar (AUD) pegged stablecoin.

On Thursday, ANZ announced a market first for the Australian banking industry. ANZ became the first bank to mint an Aussie Dollar (AUD) pegged stablecoin named A$DC.

According to the announcement,

“ANZ delivered the stablecoin for Victor Smorgon Group via Zerocap, a private wealth management firm for digital assets.”

ANZ reportedly minted 30 million A$DC with an in-house ‘built Ethereum Virtual Machine (EVM) compatible smart contract deployed through the Fireblocks platform.’

Banking Services Lead Nigel Dobson said,

“An ANZ issued Australian dollar stablecoin is a first and important step in enabling our customers to find a safe and secure gateway into the digital economy.”

ANZ is one of the big-4 Australian banks listed on the ASX200, with a market cap of A$77.72bn.

Zerocap is a digital asset investment and technology firm linking crypto and traditional finance to provide products to global clients.

The Victor Smorgon Group is an Australian-based family office of the Smorgon family, covering multiple asset classes. In September 2021, the Group announced that it took an equity stake in Zerocap.

Source



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