Nationwide Australia Financial institution makes first-ever cross-border stablecoin transaction

Nationwide Australia Financial institution (OTC:) (NAB) says it has executed the first-ever cross-border stablecoin switch by a serious monetary establishment on a layer 1 public blockchain. The intrabank switch used the financial institution’s totally backed AUDN stablecoin, which is tied to the Australian greenback.

The transaction was performed on the blockchain and used good contracts for seven currencies, in accordance with an announcement launched on March 14 by the financial institution. These currencies have been Australian, New Zealand, Singapore and United States {dollars}, in addition to euros, Japanese yen and British kilos, in accordance with an announcement launched by Fireblocks.

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