The Australian digital dollar was used in a trade for a U.S. dollar stablecoin using an Ethereum layer 2 blockchain. Australia has successfully made its first foreign exchange transaction using eAUD as part of a live pilot for the country’s potential central bank digital currency (CBDC). It comes amid a rising interest from countries around…
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This marks the second “Big 4” bank in Australia to launch an Australian-dollar pegged stablecoin in a bid to boost the digital economy. National Australia Bank (NAB) is set to become the second “Big 4” Australian bank to launch an Australian dollar-pegged stablecoin on the Ethereum network. Set to launch sometime in mid-2023, the AUDN…
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A clear principles-based regulatory approach to the digital assets sector could be a huge benefit to the Australian economy according to the report. Up to $40 billion a year (AU$60 billion), could be added to Australia’s national GDP with the right regulatory framework and could lead to enormous cost savings for consumers and businesses according…
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Reserve Bank of Australia is researching the potential benefits of launching a central bank digital currency. The monetary authority released a white paper outlining its goals and invited interested parties to participate with proposals and suggest pilot projects. Central Bank of Australia to Pilot CBDC Until Middle of 2023 The Reserve Bank of Australia (RBA)…
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