National Australia Bank Mints Stablecoin in Blockchain Push
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National Australia Bank Ltd. has created its own stablecoin pegged to the Australian dollar, a move it says will help large institutional customers with transactions that use blockchain technology.
The Melbourne-based lender will start testing the token — named AUDN — before expanding its use cases and getting feedback on the needs of corporate clients, National Australia said in a LinkedIn post. It follows the unveiling of a stablecoin last year by Australia & New Zealand Banking Group Ltd.