ANZ Advances Towards Launching Bank-Issued Stablecoin A$DC Through Successful Test Transaction on Chainlink's CCIP
Summary:
Australia and New Zealand Banking Group (ANZ) successfully completes a test transaction on Chainlink's Cross-Chain Interoperability Protocol (CCIP), bringing it one step closer to launching its bank-issued stablecoin A$DC. ANZ is exploring the use of decentralized networks and sees potential in tokenizing real-world assets like the Australian dollar. Other major Australian banks have imposed restrictions on transfers to high-risk cryptocurrency exchanges to protect customers from scams.
The Australia and New Zealand Banking Group (ANZ) has made progress in launching its stablecoin A$DC by successfully completing a test transaction on Chainlink's Cross-Chain Interoperability Protocol (CCIP). Nigel Dobson, ANZ's banking services portfolio lead, described this achievement as a significant milestone for the bank. The test transaction simulated the purchase of a tokenized asset using A$DC and an ANZ-issued NZ-dollar stablecoin. ANZ has been experimenting with various networks to determine the optimal use case for its Australian dollar stablecoin. Dobson emphasized the potential transformation of the banking industry through the tokenization of real-world assets like the Australian dollar. ANZ introduced the first A$DC stablecoin in March 2022, marking a significant milestone for Australia. However, other major Australian banks, including Commonwealth Bank of Australia, Westpac, National Australia Bank, and Bendigo Bank, have recently imposed restrictions or blocked transfers to high-risk cryptocurrency exchanges, citing the need to protect customers from potential scams.
Published At
9/15/2023 6:56:41 AM
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