{"id":59160,"date":"2022-03-24T12:01:49","date_gmt":"2022-03-24T10:01:49","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=59160"},"modified":"2025-09-04T20:26:29","modified_gmt":"2025-09-04T17:26:29","slug":"anz-bank-launches-adc-stablecoin-pegged-to-the-australian-dollar","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/anz-bank-launches-adc-stablecoin-pegged-to-the-australian-dollar\/","title":{"rendered":"ANZ Bank launches A$DC stablecoin pegged to the Australian dollar"},"content":{"rendered":"

ANZ Bank, one of Australia’s four largest banks, announced the launch of a 1:1 Australian dollar-pegged stablecoin, A$DC, built on Ethereum. The Financial Review<\/a> reports.<\/p>\n

ANZ engages with regulators AUSTRAC<\/span> and APRA<\/span> to ensure regulatory compliance. The custodian Fireblocks provided the necessary infrastructure. OpenZeppelin conducted a smart-contract audit. Chainalysis signed a contract to assist with regulatory compliance.<\/p>\n

The bank plans to launch A$DC on other blockchains, including Hedera Hashgraph.<\/p>\n

A$DC is programmable and can interact with other Ethereum contracts. The bank expects fees to fall after the blockchain moves to the PoS consensus<\/a>.<\/p>\n

Competitors Commonwealth Bank of Australia and National Australia Bank have expressed interest in issuing their own version of the digital Australian dollar.<\/p>\n

In ten minutes, ANZ conducted a test transaction with the Victor Smorgon Group family office for the equivalent of AUD 30 million in favour of the digital-asset fund manager ZeroCap. The partner avoided additional costs from converting to US dollars to buy, notably USDC, and saved time.<\/p>\n

The deployment is expected to target institutional investors. The article suggested that retail clients would gain access after listing on an authorised platform.<\/p>\n

Private stablecoins AUDT, TrueAUD and XAUD have not been listed on major crypto exchanges and do not have sufficient liquidity.<\/p>\n

\n

\u201cWe expect the digital assets economy to accelerate, and the foundational element will be the digital Australian dollar. Clients will be confident that they can use a stablecoin issued by a major authorised depository institution domestically without bearing currency risk,\u201d<\/em> said Nigel Dobson, head of banking services at ANZ.<\/p>\n<\/blockquote>\n

In an interview with Cointelegraph, Zerocap CEO Ryan McColl emphasized that the news from ANZ is also a global event. A$DC is the first fully regulated stablecoin issued by a traditional financial institution, he said.<\/p>\n

Earlier, Australian Treasurer Josh Frydenberg said<\/a> that the country would issue its own digital currency and introduce rules for cryptocurrencies.<\/p>\n

The Reserve Bank of Australia is participating in the ‘Dunbar’ project<\/a> to test cross-border CBDC settlements under BIS auspices.<\/p>\n

Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 the full news feed, ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"

ANZ Bank, one of Australia\u2019s four largest banks, announced the launch of a 1:1 Australian dollar\u2013pegged stablecoin, A$DC, built on Ethereum. The Financial Review reports.<\/p>\n","protected":false},"author":1,"featured_media":59161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[108,1229,807],"class_list":["post-59160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-australia","tag-banks-and-fintech","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=59160"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59160\/revisions"}],"predecessor-version":[{"id":59162,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/59160\/revisions\/59162"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/59161"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=59160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=59160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=59160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}