Australia’s ANZ Bank becomes the world’s first bank to mint its own crypto Stablecoins
Money is changing. Alot. And this is both giving governments new opportunities and freaking them all out.
Key takeaways
- ANZ said it has delivered the Australian dollar stablecoin, which it calls A$DC, to a private wealth management firm for digital assets - Victor Smorgon Group - through digital asset investment platform Zerocap.
- ANZ, the country's number three lender, said it has minted 30 million of A$DC using a smart contract and the coins were transferred between the parties and later redeemed back into Fiat currency.
Cite or link to this article
Griffin, M. (2022) 'Australia’s ANZ Bank becomes the world’s first bank to mint its own crypto Stablecoins', 311 Institute, 12 April. Available at: https://www.311institute.com/australias-anz-bank-becomes-the-worlds-first-bank-to-mint-its-own-crypto-stablecoins/ (Accessed: 1 October 2026).
Australia and New Zealand Banking Group (ANZ) said on Thursday it carried out an Australian dollar stablecoin payment, in a landmark transaction to become the first Australian lender to mint a digital asset linked to the country's currency.
Unlike Bitcoin and other traditional cryptocurrencies a stablecoin is a kind of digital asset that is devised to keep its value stable in relation to another asset, and are frequently used as a portal to other cryptocurrencies or to generate income in decentralised financial (DeFi) systems.
ANZ said it has delivered the Australian dollar stablecoin, which it calls A$DC, to a private wealth management firm for digital assets - Victor Smorgon Group - through digital asset investment platform Zerocap.
The company's move to mint digital assets linked to the Australian dollar comes after the Reserve Bank of Australia (RBA) said last year the growth of digital wallets could allow the exchange of tokens or digital forms of money that could be backed by the RBA, even as the central bank remains sceptical of the digital currency.
ANZ, the country's number three lender, said it has minted 30 million of A$DC using a smart contract and the coins were transferred between the parties and later redeemed back into Fiat currency.
FAQ
Why does this matter?
Money is changing. Alot. And this is both giving governments new opportunities and freaking them all out.
About the author
Matthew Griffin Founder, 311 Institute
Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath."
Read full bio
Matthew Griffin is a multi-award winning Futurist and expert in Disruption and Innovation, Geopolitics, Leadership, and Technology, who NASA have described as a "walking encyclopaedia of the future" and a "futurist Polymath." 15-time best selling author of the "Codex of the Future" series, Matthew is the Founder and Futurist in Chief of the 311 Institute, a global Futures and Deep Futures advisory firm working with royal households, world leaders, G7, G20, and G77 governments, NGOs, and multi-national mid and mega cap firms to help them explore, shape, and lead the next 50 years of business and society.
An award-winning YouTube creator with over a million followers, with an unrivalled global reach and impact, Matthew is a highly sought-after international keynote speaker, lecturer, and mentor who collaborates with global leaders through the United Nations Alliance of Civilizations (UNAOC) and United Nations General Assembly (UNGA) to shape pivotal initiatives such as the UN’s AI for Humanity program, the United Nations Conference of the Parties (UN COP), and the World Economic Forum in Davos.
As the former Global Head of Cloud, National Security, and Enterprise Sales for companies including Atos, Dell-EMC, and IBM, Matthew has a proven track record of building multi-billion dollar business units and turning failing divisions into market leaders. His ability to identify, analyse, and communicate the implications of hundreds of emerging technologies and trends is unparalleled, and his insights are trusted by many of the world’s most respected organisations, including ABB, Accenture, Adidas, AON, ARM, BCG, Centrica, Citi, Coca-Cola, Dentons, Deloitte, Dow Jones, EY, Google, KPMG, Lego, Legal & General, LinkedIn, Microsoft, PepsiCo, Qualcomm, RWE, Samsung, Siemens AG and Siemens Energy, T-Mobile, UBS, VISA, Walmart, Workday, Worldpay and many others.
Regularly featured in the global media including the AP, BBC, Bloomberg, CNBC, Discovery, Forbes, Khaleej Times, Telegraph, TIME, ViacomCBS, WIRED, and the WSJ, Matthews mission is to help organisations create a fair and sustainable future whose benefits are shared by everyone irrespective of their ability, background, or circumstances.
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Sources and further reading
- Victor Smorgon Group au.linkedin.com
- Zerocap zerocap.com
- Reserve Bank of Australia rba.gov.au
Source: first published by the 311 Institute on 12 April 2022. Cite as: Griffin, M. (2022). Australia’s ANZ Bank becomes the world’s first bank to mint its own crypto Stablecoins. 311 Institute. https://www.311institute.com/australias-anz-bank-becomes-the-worlds-first-bank-to-mint-its-own-crypto-stablecoins/
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