News and Announcements
The first bank to mint an Australian dollar stablecoin, the A$DC
- Published May 19, 2022 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
We are pleased to share with you a collaboration that we are incredibly proud of.
Zerocap has underlined its position at the forefront of enabling and encouraging Australian investors and corporates to adopt and use digital assets and blockchain-based systems, with their involvement in A$DC, a stablecoin pilot project linked to the Australian dollar and backed by a major Australian bank.
Zerocap worked with ANZ Bank and global digital asset custody provider Fireblocks to mint A$DC, a new stablecoin pegged to the Australian dollar, for Victor Smorgon Group, a client of both ANZ and Zerocap.
It is the first time an Australian bank has minted a digital asset linked to the value of the Australia dollar, and may be the first time a bank anywhere in the world has created a stablecoin that has been used in a real transaction.
Ryan McCall, Zerocap CEO and co-founder said:
“Most of the crypto industry has been focused on directly servicing the retail market, whereas we’ve invested from the outset in establishing the product, technology, compliance and team to properly service private and institutional clients, like the Victor Smorgon Group and ANZ. Digital assets are going mainstream; we’re thrilled to be at the forefront of driving adoption and bringing that vision to life.”
Read more in this AFR article here.
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