A$DC rocks the Aussie dollar as ANZ bank mints first AUD stablecoin

ANZ is working with local regulators such as AUSTRAC and APRA to sign off the project in a compliant manner, and has already conducted an experimental transaction in the Ethereum blockchain with its institutional partner Victor Smargon Group, the family office attached to the billionaire Smargon family. .

According to a March 24 report by the Australian Financial Review (AFR), Stablecoin will initially be launched for institutional clients who are looking for an affordable on-ramp for crypto investing, but it is likely to open up in the retail trading market. Even in the near future.

In the pilot transaction, Victor Smargon sent A $ DC worth $ 22 million (A $ 30 million) to Australian DG Tall Asset Fund Manager Zerocap, which has partnered with ANZ to provide core infrastructure and advisory services.