National Australia Bank creates stablecoin called AUDN: AFR

Quick Take

  • National Australia Bank has created a stablecoin called AUDN that allows business customers to settle transactions in Australian dollars, the Australian Financial Review reported, citing sources.
  • The bank is aiming for transactions to launch mid-year, including carbon credit trading and remittances.
  • The stablecoin will launch on the Ethereum network and be backed one-to-one with Australian fiat held by the bank.
  • Four banks attempted to create an industry-wide Australian dollar stablecoin last year.

National Australia Bank (NAB) is launching a ful