National Australia Bank plans to launch a stablecoin called AUDN in mid-2023 for real-time transactions using Australian dollars.
The stablecoin will be used for carbon credit trading, overseas money transfers, and repurchase agreements.
This move also aligns with financial institutions’ growing interest in blockchain and stablecoins.
National Australia Bank (NAB), one of the four largest banks in Australia, plans to launch a stablecoin called AUDN in the middle of 2023, according to the Australian Financial Review (AFR). The Australian dollar will fully back the stablecoin, and the NAB will hold the money.
The stablecoin will also aim to allow customers to settle transactions on blockchain technology in real time using Australian dollars. AUDN could also be used for carbon credit trading, overseas money transfers, and repurchase agreements.
AUDN will launch on Ethereum and the Algorand blockchain, a smart contract platform similar to Ethereum. Stablecoins like AUDN a
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