ANZ, Fireblocks mint first Australian dollar stablecoin

Australia and New Zealand Banking Group (ANZ), one of Australia’s top four banks, has partnered with Fireblocks, a digital asset tech provider, to mint the country’s first digital asset linked to the Australian Dollar.

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ANZ minted the Australian dollar stablecoin, the A$DC, through digital asset investment platform Zercop for Victor Smorgon Group, a private wealth management firm for digital assets. The bank used Fireblocks Network, a crypto liquidity gateway, for the transaction.

Through Fireblocks, institutions can access an end-to-end tokenization engine for managing the full lifecycle of minting, burning, and transferring stablecoins and security tokens on over 30 blockchain networks.

“The financial sector is undergoing rapid digital transformation and we expect to see more banks and traditional financial institutions like ANZ joining the movement,” said Fireblocks CEO Michael Shaulov.

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ANZ said it has minted 30 million A$DC using a smart contract deployed through the Fireblocks platform.

Fireblocks has facilitated transactions of over US$2 trillion in digital assets to date and has partnered with firms including Bank of New York Mellon, Siam Commercial Bank, Revolut, and Crypto.com.