Australia and New Zealand Banking Group is one step nearer to launching its bank-issued stablecoin A$DC after the bank efficiently executed a test transaction on Chainlink’s Cross-Chain Interoperability Protocol.
ANZ’s banking companies portfolio lead Nigel Dobson said in a Sept. 14 assertion that the transaction was a “milestone” second for the bank:
“ANZ just lately labored with Chainlink CCIP to full a test transaction to simulate the acquisition of a tokenised asset, facilitated utilizing A$DC and an ANZ-issued NZ-dollar-denominated stablecoin.”
Dobson mentioned the agency has been experimenting with a number of networks — presumably to test out the place the ANZ’s Australian greenback stablecoin might be greatest utilized:
“We’re actively exploring using decentralised networks via a ‘test-and-learn’ strategy,” the ANZ govt mentioned.
As Australia and New Zealand Banking Group (ANZ), one the world’s largest world banks with over $1 trillion in whole belongings below administration, demonstrates using CCIP for safe cross-chain stablecoin transactions, the position of Chainlink and CCIP as an ordinary for interbank… pic.twitter.com/qdehsUX4rQ
— Sergey Nazarov (@SergeyNazarov) September 14, 2023
Dobson mentioned ANZ sees “actual worth” in tokenizing real-world belongings just like the Australian greenback, a transfer that would doubtlessly remodel the banking business:
“Tokenised belongings are already altering the way in which banking works, and the know-how has the potential to do extra — if the proper items can come collectively.”
ANZ minted the primary A$DC stablecoin in March 2022, changing into the primary Australian bank to accomplish that. Nationwide Australia Bank became the second a year later with its AUDN stablecoin on Ethereum.
Associated: Don’t follow the US: Blockchain Aus CEO hammers ‘regulation by enforcement
Nevertheless, NAB and some of its peers — Commonwealth Bank of Australia, Westpac and Bendigo Bank — just lately imposed restrictions and, in some situations, full blocks on bank transfers to a number of “high-risk” cryptocurrency exchanges.
These banks cited the necessity to protect customers against cryptocurrency scams as the principle motive behind imposing the restrictions.
Journal: Unstablecoins: Depegging, bank runs and other risks loom
