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  • Writer's pictureMichael Paulyn

The Australian National Bank is Looking to Launch Its Own Ethereum-Based Stablecoin

The National Australia Bank (NAB), one of Australia's "Big 4" banks, is announcing its nearly ready to officially launch an Aussie dollar-pegged stablecoin that'll work off the Ethereum blockchain network. The bank shares that this stablecoin will be fully backed by the nation's dollar and will carry the equivalent value to a physical dollar.

NAB, a member of the Reserve Bank of Australia, will be the second national institution in Australia that's taking cryptocurrency seriously within the fintech space. The Aussie stablecoin is projected to make its official debut sometime in the middle of this year, with many in Australia wondering how it'll impact their finances and daily lives.

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