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Australia’s ‘Big Four’ Bank NBA To Mint Stablecoin On Ethereum, Algorand

One of the four biggest banks in Australia, the National Australia Bank (NAB), has announced that it will soon roll out a new Australian dollar-pegged stablecoin on Ethereum and Algorand. By doing so, NAB has become the second of the country’s major financial institutions to build a stablecoin.

The National Australia Bank is soon launching a stablecoin to enable customers to settle transactions on the blockchain in real-time using Australian dollars. It will also be used to purchase carbon credits and in overseas money transfers and repurchase agreements.

The stablecoin, dubbed AUDN, will debut on the Ethereum and Algorand blockchains in the middle of this year. 

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