National Australia Bank Creates AUDN Stablecoin

What are stablecoins?  Forklog explains
What are stablecoins?  Forklog explains

Banking group National Australia Bank (NAB) is creating a secured stablecoin AUDN, reports AFR citing own sources.

The stablecoin will be launched on the basis of Ethereum and Algorand approximately in the middle of the year.

The stablecoin will be backed by the Australian dollar at a ratio of 1:1. NAB will act as custodian.

Examples of main use cases for a new asset:

In 2021, it became known about Australia’s plans to launch its own digital currency while introducing regulations for the crypto industry.

Recall that in March ANZ Bank released the A$DC stablecoin.

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