Stuck in the sandbox: Why bank stablecoin projects struggle to get off the ground
Five years after a wave of banks announced stablecoin ambitions, most projects remain stuck in testing. WatersTechnology spoke to more than 25 experts to find out why an increasingly mature technology has yet to translate into production-grade bank infrastructure.
In March 2023, National Australia Bank (NAB) quietly completed what it described as a world first: a cross-border transaction using its own stablecoin, AUDN, settling across seven currencies on a public blockchain in minutes rather than days. NAB was punching above its weight—this was the kind of transaction that executives at Wall Street heavyweights JP Morgan and Goldman Sachs had been promising for years.
The significance of a Melbourne retail lender stealing a march on investment banking
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