ZeroCap CEO Ryan McCall told Cointelegraph that ANZ bank’s Aussie dollar pegged stablecoin marks a “huge step” in crypto going mainstream not only in Australia but globally.
Big 4 bank ANZ has become the first Australian bank to mint an Australia dollar pegged stablecoin named “A$DC.”
The pilot transaction saw Victor Smorgon send $22 million worth of A$DC to Zerocap, an Australian digital asset fund manager that has partnered with ANZ to provide key infrastructure and advisory services. “Until A$DC we’ve not had a bank-backed Aussie dollar stablecoin, and 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.”
“The transition to ETH2 and beyond will be important. It's not a sure thing for Ethereum though as Hedera and others are in the mix here, including from an ANZ perspective,” he said.