ANZ bank completes Australian CBDC use case for facilitating carbon credit trading

Australia and New Zealand Banking Group (ANZ) has completed its usage lawsuit successful the aviator task tally by the Reserve Bank of Australia (RBA) and Digital Finance Cooperative Research Centre utilizing cardinal slope integer currency (CBDC). ANZ partnered with Grollo Carbon Ventures (GCV) to commercialized c credits.

ANZ tokenized Australian Carbon Credit Units (ACCUs) and GCV utilized its A$DC stablecoin to commercialized c credits connected a public, permissionless blockchain. Settlement occurred “in adjacent real-time via ANZ astute contracts,” the slope said. Australian CBDC was utilized to backmost A$DC. ANZ banking services pb Nigel Dobson said:

“When applied to c markets, tokenisation has the imaginable to amended ratio and transparency, trim hazard and sphere the unsocial characteristics of underlying projects to incentivise concern successful clime solutions.”

This was the archetypal of 3 Australian CBDC aviator usage cases that ANZ volition enactment in. It volition besides beryllium progressive successful usage cases for offline payments and pension money payments, which are among the 14 usage lawsuit projects the RBA announced successful March. Besides the 3 projects, ANZ volition besides beryllium progressive successful distributing the CBDC.

Related: Putting c credits connected blockchain won’t lick the occupation alone: Davos

A$DC premiered successful March 2022 arsenic the archetypal Australian dollar-based stablecoin issued. It was utilized successful June successful an ACCU commercialized betwixt the Victor Smorgon radical and Zerocap.

ANZ Bank Goes FULL STEAM AHEAD with their ‘Central Bank Digital Currency’ Program, Prepare For a Social Credit System. pic.twitter.com/q3MwCs9rpa

— Australians vs. The Agenda (@ausvstheagenda) March 31, 2023

The 2nd Australian bank-issued stablecoin was the AUDN, issued by National Australia Bank with c recognition trading specifically successful mind. That coin was utilized successful the first-ever cross-border stablecoin transaction successful March.

Pro-crypto Australian Senator Andrew Bragg introduced authorities to regulate stablecoin and cryptocurrency services arsenic a backstage measure (one not introduced by a authorities minister) successful March. He had released a draught of the bill successful September. The RBA published a achromatic paper connected stablecoins and their regularisation successful December.

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