National Australia Bank creates AUDN, an Australian dollar stablecoin based on Ethereum and Algorand

ChainCatcher news, according to sources cited by the Australian Financial Review, the National Australia Bank has created a stablecoin AUDN, which is backed one-to-one by the Australian fiat currency it holds. It will be available to retail and institutional investors on the Ethereum and Algorand blockchains, and will allow commercial clients to settle transactions in Australian dollars. The bank aims to launch trading by mid-year, including carbon credit trading and remittances. (Source link)