Reportedly, ANZ, Australia and New Zealand banking group are closer to launch its own Stablecoin A$DC. This is going to happen with the help of Chainlink. The development came after the successful test transaction that was conducted using Chainlink's Cross-Chain interoperability protocol.
The transaction is seen by ANZ's head of banking services as a key achievement for ANZ. The bank is hopeful of a promising future in the tokenization of assets that are tangible. As according to Nigel Dobson, the head of ANZ banking services, tokenized assets are redefining the banking industry.
According to him, the technology holds a promising potential. Back in March 2022, ANZ made history by issuing the first stablecoin A$DC becoming the first bank of Australia to take such step.
National Australia Bank, NAB, following their footsteps launched its stablecoin AUDN on Ethereum blockchain a year later.
PayPal also launched its own Stablecoin PayPal USD recently which also was something positive to see on the end of crypto community. The stablecoin is intended for use in digital payments and transfers and is fixed to the US dollar.
Good for the crypto market to see some of these big companies looking into the technology and embracing it. This does give us a glimpse of the potential of this technology.
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