Today ANZ bank confirmed it completed one of its projects as part of Australia’s central bank digital currency (CBDC) trials. The use case involved using the ANZ A$DC stablecoin to settle tokenized carbon credit transactions. The bank is participating in four of the 15 use cases in the Australian CBDC pilot, which is being run by the Digital Finance CRC (DFCRC).
While the stablecoin was used for transaction settlement on a public permissionless blockchain, the pilot CBDC was used as the reserve asset backing the stablecoin. Outside of the CBDC experiment, ANZ previously announced its first stablecoin issuance on Ethereum a year ago.
“When applied to carbon markets, tokenisation has the potential to improve efficiency and transparency, reduce risk and preserve the unique characteristics of underlying projects to incentivise investment in climate solutions,” said ANZ Banking Services Lead Nigel Dobson.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
