National Australia Bank halts development work on Ethereum-based stablecoin AUDN

Odaily Planet News: National Australia Bank (NAB) recently announced the suspension of the development of the Ethereum-based stablecoin AUDN. The development team behind the project is now involved in the stablecoin Ubiquity project. The Australian dollar stablecoin project has received support from Animoca Brands, Concave, and Merit Circle. Another Australian bank, ANZ Bank, is also involved in the initiative and has been developing a stablecoin called A$DC. Before deciding to halt this stablecoin project, NAB hopes it can facilitate real-time blockchain transactions using local currencies. The bank expects it to be used for cross-border payments, carbon credit trading, and repo protocols. (Bitcoin.com)