The crypto contagion only hurt entities that poorly managed their treasuries, but didn’t affect the underlying blockchain technology, he said. The crypto contagion sparked by Terra’s infamous implosion this year only spread to companies and protocols with “poor balance sheet management” and not the underlying blockchain technology, says Kraken Australia’s managing director Jonathon Miller. Speaking…
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The latest A$DC transaction saw ANZ’s institutional partner Victor Smorgon use A$DC to purchase Australian Carbon Credit Units from blockchain-based carbon trading platform BetaCarbon. ANZ’s stablecoin A$DC has been used to buy Australian tokenized carbon credits, marking another critical test of the asset’s use cases in the local economy. In March, the “Big Four” bank…
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Executives from two of Australia’s “big four” banks have said they won’t allow their retail customers to trade crypto with ANZ, adding they’re happy they didn’t “go head long” into a cryptocurrency offering. Executives at two of Australia’s “big four” banks have ruled out allowing retail customers to trade cryptocurrency on their platforms, with one…
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“When you look under the hood on that, we’ve concluded that this is a major protocol shift for financial market infrastructure,” said Nigel Dobson, ANZ’s Banking Services Portfolio Lead. One of the ANZ bank’s senior executives has told a Blockchain Australia forum that the crypto sector has grown too big to be ignored by traditional…
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The CBA stated that it will support 10 crypto assets in its banking app, including Bitcoin, Ethereum, Bitcoin Cash and Litecoin. The Commonwealth Bank of Australia (CBA) is set to launch crypto trading services for the 6.5 million users of its CommBank app. The CBA will become the first bank in Australia to support crypto,…
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Blockchain tech could purportedly reduce the timeline of bank guarantees processes by days. Three of the “big four” Australian banks are forming a new company called Lygon to digitize bank guarantees using blockchain technology. Bank guarantees are an official contract between a debtor and a financial institution. It ensures the debtor and the debt provider…
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