Hey Peeps!
On January 18th, The National Australia Bank (NAB), one of the "Big 4" banks in Australia, spoke with Australian Financial Review and announced they will be launching a stablecoin pegged to the Australian dollar.
The stablecoin will reportedly be called "AUDN", and it will launch on the Ethereum and Algorand networks sometime in mid-2023.
The goal of AUDN's creation is to optimize "cross-border remittances and carbon credit trading".
“We certainly believe there are elements of blockchain technology that will form part of the future of finance [...] From our point of view, we see [blockchain] has the potential to deliver instantaneous, transparent, inclusive, financial outcomes.” - Howard Silby, Chief Innovation Officer at NAB
This is now the second stablecoin launched by a "Big 4" Bank in Australia, after the "A$DC" was launched in March 2022 by the Australia and New Zealand Banking Group (AZN).
A$DC was initially opened up for just institutional clients seeking an on-ramp for crypto investments.
It has also been used for the purchase of tokenized carbon credits and international remittances.
Both the AUDN and A$DC stablecoins will be opened up to the retail trading in the near future.
It is also important to mention that the Reserve Bank of Australia is also working on a CBDC pilot project that may launch as soon as mid-2023.
It certainly looks like Australia is getting ahead of most countries when it comes to Stablecoins and the transition to a digital economy.
Whether this is a good thing, remains yet to be seen.
What are your thoughts on this news?
Any Australian readers that can provide some first-hand insight and experience with these stablecoins?
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Thank you so much for sharing your post at #steem4bloggers community. We are extremely happy to see your post.
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Faran Nabeel
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@faran-nabeel brother, It,s not my post. plz check again this post user name🙂.
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Ohh Noted thanks for confirmation 🤠
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Hello,
Also, this is not plagiarism. This is my own article I wrote myself and originally publish on Publish0x.
I am reposting my articles over here on Steemit.
I had already spoken with Shibu Detective regarding this.
I am also trying to get verfied and have submitted my #Achievement1 Introduction to the Newcomers' Community.
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But we support only steemexclusive content on our community.
Brother we support only exclusive content and especially we not support reposted content.
It's really good dear, kindly give me your achievement 1 link and get verification on pak community.
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Here is the link to the Achievement 1 post: https://steemit.com/hive-172186/@zerorequiem0x/introducing-myself-to-the-steemit-community
Understood. I did not know this was only original content only, and the content cannot be posted anywhere else on the internet. Thank you for providing me this information. I will make sure to post my articles where they are acceptable.
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Okay good luck dear, We will always support your quality blogs.
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Can you allow my posts to be seen now? They keep getting hidden due to low rating.
I have now completed the Achievement 1 Verification process in the Newcomers Community.
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Please submit your new and exclusive content's post on our community. And we surely give you support If you fullfil our all rules and guidelines.
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