NAB will this week use its digital dollar to send funds between subsidiaries in six countries, a precursor to taking some cross-border payments off SWIFT.
NAB said it had discussed the CBDC with the RBA, suggesting the central bank remained unsure about how broadly any digital currency would be made available or the level of coordination and interoperability between other central banks.
“Later this calendar year, we will be doing real customer trades. We have a couple of clients who want to use the technology,” Drew Bradford, NAB’s executive general manager for markets, told. “We initially spoke to the RBA about it, but thought we will go along on our own path.” Ultimately, stablecoins could facilitate retail foreign exchange services being provided at wholesale exchange rates, something already offered by disrupters such as London-listed Wise.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Trying to cross is just mayhem’: The deadliest roads for pedestrians in MelbourneA stretch of Ballarat Road in Melbourne’s western suburbs has been the deadliest in the city for pedestrians, according to data collected over a decade. Locals say that rate will climb unless safety measures are put in place.
Read more »
Aussies Tudhope, Reid crowned world para-snowboard championsBen Tudhope cracks gold in the men's para-snowboard cross at the world championships in Spain, while former cyclist Amanda Reid also tops the podium.
Read more »
'Transcends politics': The unlikely group of Australian politicians rallying behind Julian AssangeA cross-section of Australian politicians are calling for Julian Assange's return to Australia. His father says he doesn't have hope, but faith, that it will happen.
Read more »
USD Coin value falls after revealing $3.3bn held at Silicon Valley BankThe stablecoin fell as low as $0.87 as Circle broke the news that its reserves were at the collapsed lender
Read more »
Millions of Aussies set for cash boost within daysMore than 4.7 million Australians will receive a boost to their welfare payments to keep pace with rising inflation. 7NEWS
Read more »
What the super tax debate means for government budget repairThe uncomfortable truth is that the super concessions — costing a monumental $48 billion a year — are social welfare payments the nation can no longer afford, writes business editor Ian Verrender.
Read more »