The Victor Smorgon Group has used ANZ Banking Group’s Australian dollar-pegged stablecoin, A$DC, to purchase tokenized carbon credits in a transaction facilitated by crypto asset investment firm ZeroCap.

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Fast facts

  • The carbon credits were tokenized to create digital security tokens — known as BCAUs — by carbon trading platform BetaCarbon.
  • The parties took part in the first A$DC transaction in March, which was the first Australian-bank issued stablecoin transaction on a public permissionless blockchain.
  • Stablecoins can conduct settlement on-chain as opposed to a third-party platform such as Visa, thus reducing counterparty risks and transaction times.
  • “We’re seeing increasing customer appetite to use A$DC to enter the digital economy,” ANZ Banking Services Lead Nigel Dobson said in a statement.
  • ANZ is one of Australia’s “Big Four” banking groups. 

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