Australia and New Zealand Banking Group (ANZ) has developed a new set of redemption procedures for an enterprise-focused stablecoin.
The bank, which has $706.6 billion in assets under its management, aims to enable carbon trading and tax collection with the help of stablecoins.
ANZ also aims to allow retail customers to purchase NFT with the help of stablecoins. Available on a potential A$DC Metaverse platform.
Australia’s second-largest bank has announced that it has partnered with cryptocurrency platform Fireblocks for an Australian dollar-backed stablecoin. The bank became the first major banking institution to make such an attack.
The project was initially developed for Victor Smorgon Group, one of Australia’s most successful family offices.
Stablecoin initially drew backlash from regulators, but ANZ director Nigel Dobson noted that they have been making quite a few sightings with regulators.