Banking group National Australia Bank (NAB) is creating a secured stablecoin AUDN, reports AFR citing own sources. The stablecoin will be launched on the basis of Ethereum and Algorand approximately in the middle of the year. The stablecoin will be backed by the Australian dollar at a ratio of 1:1. NAB will act as custodian. Examples of main use cases for a new asset: trade in carbon credits; international money transfers; REPO transactions. In 2021, it became known about Australia’s plans to launch its own digital currency while introducing regulations for the crypto industry. Recall that in March ANZ Bank
AUDD stablecoin selected for 2 key use cases in Australia’s Project Acacia pilot. Project Acacia to test AUDD in atomic settlement and real-time payments integration. Six-month national pilot explores digital money use in tokenized financial infrastructure. Australia’s financial market is moving toward digital settlement systems as the Hedera-based stablecoin AUDD…
Key Highlights World Liberty Financial filed for a US national trust bank charter to issue, custody, and convert its USD1 stablecoin under federal supervision. USD1 has crossed $3.3 billion in circulation within a year, with growing institutional use in payments and treasury operations. The move comes amid broader US regulatory…
Key Highlights Agora received preliminary conditional approval from the OCC to establish Agora National Trust Bank. The proposed bank would oversee stablecoin, custody and transaction services if it receives final approval. Agora currently issues AUSD through its Bermuda-regulated subsidiary, Agora Bermuda Limited. Stablecoin company Agora has received preliminary conditional approval…