ANZ Bank (Australia & NZ) - Stablecoin (testing on Hedera)

self.Hedera1m ago
The HBAR Foundation [tweeted a more vague comment]( on this (ie. that ANZ was testing a stablecoin on Hedera), but I did some digging and it's pretty interesting and potentially very exciting and innovative, even on a global stage. According to the Australian Financial Review, *"It is the first time an Australian bank has minted a digital asset linked to the value of the Australia dollar, and may be the first time a bank anywhere in the world has created a stablecoin that has been used in a real transaction.".* I am not sure it's a world first, but from what I can tell it's definitely an Aussie first. However, according to the Australian Financial Review, it looks like the original stablecoin test transaction was built on Ethereum: *“The transaction for Victor Smorgon \[the test referred to\] took place on the ethereum blockchain, which Mr Dobson said involved a relatively high cost compared to traditional payment systems given congestion on the ethereum network had pushed up transaction fees, known as “gas fees”. However, ANZ expects transaction costs to fall under a new version of ethereum set to launch mid-year.* ***It is also preparing for A$DC to work on alternative blockchains, including Hedera.”*** Full, excellent article here in the Australian Financial Review: []( But in a panel video, from **Blockchain Australia** conference in March, Nigel Dobson (banking services lead at ANZ) seems to be actually more bullish on Hedera than the AFR article (above) insinsuates: **meat starts at 18mins**, where Nigel Dobson says (and I'm paraphrasing) that while Ethereum is currently the "network of choice", it is expensive and not sustainability conscious, and because of that they have become *very* interested in Hedera and so they tested a stablecoin out on the Hedera test net. BULLISH: [](