ANZ Mints the World’s First Bank-Backed AU$ Stablecoin

Happiest TradFi banker in Australia tonight. Great to see Mark Whelan, Head of Institutional Banking at ANZ at the Zerocap drinks to celebrate ANZ’s extraordinary milestone. Today ANZ minted the world’s first bank-backed AU$ stablecoin.

Stablecoins are a critical part of the DeFi landscape.

ANZ Bank announced today the successful execution of the first ever Australian bank-issued stablecoin payment, pegged to the Australian dollar, through a public permissionless blockchain transaction.

ANZ confirmed in a statement it delivered the stablecoin for Victor Smorgon Group via Zerocap, a private wealth management firm for digital assets.

A stablecoin is a cryptocurrency with a value linked to a commodity, currency or algorithm to manage supply.

ANZ minted 30 million of A$DC using an ANZ built Ethereum Virtual Machine (EVM) compatible smart contract deployed through the Fireblocks platform, allowing Victor Smorgon Group to transact the funds to Zerocap within minutes.

Well done to the ANZ Team and to Ryan McCall and the ZeroCap Team (and thanks for the drinks)