A$DC rocks the Aussie dollar as ANZ bank mints first AUD stablecoin
“Most of the industry utilizes non-bank and often unregulated USD stablecoins. Now with this Big 4 bank-issued AUD stablecoin, the use case is a lot more compelling,” said ZeroCap CEO Ryan McCall. Big 4 bank ANZ has become the first Australian bank to mint an Australia dollar (AUD) pegged stablecoin named “A$DC.”But rival bank NAB also has its own stablecoin project which is expected to launch by the end of the year.ANZ is working with local regulators such as AUSTRAC and APRA to get the project signed off in a compliant manner, and has already run a test transaction on the Ethereum....
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A total of 2.97 billion aUSD erroneously minted were recovered after the glitch. After the mining failure involving its stablecoin aUSD, the Acala Network announced on Monday that it had resumed its operations following a referendum allowing LPs to withdraw liquidity from pools or unstake LP tokens.The community referendum for Stage 1 of resuming Acala operations has passed and been executed. LPs who choose to unstake LP tokens or withdraw liquidity on Acala now have the option to do so. https://t.co/yzvOz7zwxT— Acala (@AcalaNetwork) September 26, 2022 In August, a misconfiguration of the....
ANZ Bank has launched a stablecoin tethered to the Australian dollar, lowering the risk associated with digital asset purchases and encouraging more clients to use crypto. It is the first time an Australian bank has issued a digital asset tied to the Australian dollar’s value, and it may be the first time a major lender […]
The U.S. company Circle is launching a regulated stablecoin that is pegged to the euro, but what does this mean for the eurozone? The market capitalization of Tether (USDT), a United States dollar-pegged stablecoin, is currently over $65 billion. USD Coin (USDC), another stablecoin backed by the U.S. dollar, clocks in near $55 billion. Some reports estimate that the total market cap of dollar-backed stablecoins is over $160 billion.Despite this success of dollar-based stablecoins, there has not been a euro stablecoin that is even remotely comparable in size. By the end of June, the....
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According to regional reports, El Salvador’s current leadership is in the midst of developing a stablecoin backed by the U.S. dollar. Meanwhile, others believe the stablecoin idea was scrapped now that Nayib Bukele’s government chose to leverage bitcoin. Some Say the Colón-Dollar Is Being Developed, Others Claim the Salvadoran Stablecoin Idea Was Scrapped There’s lots of debate going on concerning a report published by the regional news outlet El Faro. The investigation claims the Salvadoran president Nayib Bukele and his regime plans to issue a stablecoin. The El....