Australia and New Zealand Banking Group ANZ is close to releasing its Australian dollar-pegged stablecoin, A$DC, following a successful test transaction on Chainlink. 

In a statement, ANZ’s banking service portfolio lead, Nigel Dobson, said they see high potential in tokenizing real-world assets (RWA) like the Australian dollar on-chain. According to Dobson, the stablecoin’s test transaction on Chainlink’s cross-chain interoperability protocol (CCIP) marks a milestone for the bank.

ANZ Bank Explore Suitable Networks To Launch Stablecoin

In the statement, Dobson also revealed that ANZ is exploring several networks to determine the best platform for its stablecoin. The Chainlink CCIP test transaction simulated how the ANZ-issued NZ dollar-denominated stablecoin can facilitate the purchase of a tokenized asset.

According to the executive, real-world assets tokenization can transform the banking industry if applied the right way, and he stated that the bank has learned valuable lessons from its work with the A$DC stablecoin and real-world assets tokenization.

It is worth mentioning that the Australia and New Zealand Banking Group minted its first A$DC stablecoin in March 2022. Later, the National Australian Bank (NAB) followed with the launch of its AUDN stablecoin on the Ethereum network in January 2023. 

Australian Banks Grow Wary Of Crypto-Related Transactions 

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Author: Kent Glory

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