National Australia Bank says it has completed the first intra-bank cross-border transaction using its own stablecoin via ethereum.
The deal is part of NAB’s pilot for the Australian dollar-backed stablecoin. National Australia Bank intends to issue a stablecoin under the code “AUDN”, which will be managed as a liability on its books.
The company plans to further support trading in AUD, NZD, SGD and USD, as well as EUR, JPY and GBP.
Digital asset infrastructure provider Fireblocks and fintech platform Blockfold will assist with smart contract matters, direct token custody, and minting and burning.