Tag: Stablecoin

Stablecoin Launch By Aussie Bank Looms After Chainlink Blockchain Trials

Australia and New Zealand Banking Group ANZ is close to releasing its Australian dollar-pegged stablecoin, A$DC, following a successful test transaction on Chainlink.  In a statement, ANZ’s banking service portfolio lead, Nigel Dobson, said they see high potential in tokenizing real-world assets (RWA) like the Australian dollar on-chain. According to Dobson, the stablecoin’s test transaction on Chainlink’s cross-chain interoperability protocol (CCIP) marks a milestone for the bank. ANZ Bank Explore Suitable Networks To Launch Stablecoin In the statement, Dobson also revealed that ANZ is exploring several networks to determine the best…

ANZ Takes Lead in Australia’s Banking Sector with A$DC Stablecoin

Chainlink’s Cross-Chain Interoperability Protocol (CCIP) might provide a lasting solution to the challenge posed by blockchain fragmentation. In a recent development, the Australia and New Zealand Banking Group (ANZ), one of Australia’s major banks, is taking significant steps toward the launch of its bank-issued stablecoin A$DC. This move follows a successful test transaction conducted using Chainlink’s Cross-Chain Interoperability Protocol, and it aims to facilitate the simulation of tokenized asset purchases, showcasing the bank’s dedication to exploring decentralized networks. Nigel Dobson, ANZ’s Portfolio Lead, announced this milestone in a statement, characterizing…

Major Aussie bank takes next step to AUD stablecoin after Chainlink test transaction

boss

Australia and New Zealand Banking Group is one step closer to launching its bank-issued stablecoin A$DC after the bank successfully executed a test transaction on Chainlink’s Cross-Chain Interoperability Protocol (CCIP): ANZ’s banking services portfolio lead Nigel Dobson said the transaction was a “milestone” moment for the bank in a Sept. 14 statement: “ANZ recently worked with Chainlink CCIP to complete a test transaction to simulate the purchase of a tokenised asset, facilitated using A$DC and an ANZ-issued NZ-dollar-denominated stablecoin.” Dobson said the firm has been experimenting with several networks —…

Hedera unveils open-source toolkit for stablecoin developers

With the SDK, Hedera wants to bring more stablecoin applications, sparing developers from blockchain hurdles. Hedera, an open-source, leaderless proof-of-stake network, is set to compete with blockchain giants like Ethereum (ETH) in deploying stablecoins with a new toolkit. In a blog post on Sept. 14, Hedera revealed a new open-source tool to build stablecoin applications on its network. The SDK named Stablecoin Studio supports 3rd-party data sources and API integrations with pre-determined custody and KYC/AML providers, allowing stablecoin issuers to provide public disclosures of collaterals. “For stablecoins to be widely…

Opera Taps Celo to Launch Stablecoin Wallet for African Users

Celo’s inclusion with Opera’s MiniPay wallet augurs well for Africa’s expanding digital finance sector. Opera, the well-known web services provider, has announced intentions to integrate a non-custodial stablecoin wallet built on the Celo blockchain into its mobile web browser. This product, dubbed “MiniPay”, is intended to empower Opera’s enormous user base across the African continent by giving an easy and safe means of accessing and dealing with stablecoins. MiniPay seeks to make digital finance more accessible by allowing people to transfer and receive stablecoins using their existing mobile phone numbers. Exciting…

Stablecoin de-pegging plagued USDC and DAI more than others: Analysts

boss

Dollar-pegged stablecoins are not immune to dropping their pegs, but some such as Circle’s USD Coin (USDC) and MakerDAO’s Dai (DAI), have been more prone to depegging than others, according to analysts at S&P Global. A September research paper from Dr. Cristina Polizu, Anoop Garg and Miguel de la Mata, delved into stablecoin valuation and depegging for five leading stablecoins: Tether (USDT), Binance USD (BUSD), Paxos (USDP), USDC and DAI. The analysis revealed that USDC and DAI have spent more time below a dollar than USDT and BUSD over the past two…

Fed vice chair Barr gives update on CBDC research, plugs stablecoin legislation

boss

The United States Federal Reserve Bank vice chairman spoke at the Philadelphia Fed’s fintech event on Sept. 8 about the central bank’s role in financial innovation. Research and supervision was the short answer and a nod to the FedNow Service. Along with the standard disclaimer about it making no decisions without Congressional authorization, Barr provided an overview of the Fed’s “current focus” of central bank digital currency (CBDC) research. He characterized it as “basic research […] that might support a CBDC payments backbone, or for other purposes in the existing…

Palau to freeze USD-backed stablecoin after pilot launch in July

boss

Palau, a country in the western Pacific Ocean, is wrapping up its United States dollar stablecoin project after launching the pilot in August. Jay Hunter, a Palau Ministry of Finance member and head of the digital residency program, took to X (formerly Twitter) to announce that the government will cease the distribution of the Palau Stablecoin (PSC) on Sept. 8. Following the distribution halt, Palau Stablecoin will also be frozen after Sept. 15, becoming unavailable for spending by users, Hunter said, noting: “After Sept. 15, you will no longer be…