National Australia Bank News

The pilot project will last a year, and the details for potential participants will be published in the next few months.

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.

“Most of the industry utilizes non-bank and often unregulated USD stablecoins. Now with this Big 4 bank-issued AUD stablecoin, the use case is a lot more compelling,” said ZeroCap CEO Ryan McCall.

Following Treasurer Josh Frydenberg’s “payments and crypto reform plan,” the RBA has published a report exploring DLT tech and wholesale CBDC issuance.

The CBA stated that it will support 10 crypto assets in its banking app, including Bitcoin, Ether, Bitcoin Cash and Litecoin.

Australia's crypto ecosystem thrives despite the pandemic, with DeFi booming, a five-year blockchain roadmap and institutional adoption.

National Australia Bank and the Commonwealth Bank of Australia will be taking part in a joint project led by global financial innovation firm R3