Last week it was reported that National Australia Bank (NAB), one of the country’s big four banks, has issued a stablecoin AUDN, which is not yet widely available. A few days later, NAB confirmed a partnership with agritech startup Geora to use blockchain to record sustainable agriculture practices. The two initiatives are likely to overlap.
As background to the agriculture partnership, NAB has an ‘Agri Green Loan’ book, and the blockchain solution is being used to track that borrowers comply with the green covenants of the loan.
“With our stablecoin functionality, that can be characterised as a tokenised deposit, plus our use of blockchain to verify our green assets, a tokenised green deposit offering is certainly in NAB’s Digital Assets product development pipeline,” said NAB Chief Innovation Officer Howard Silby.
NAB sees a role for itself as an intermediary between investors looking to use their money for sustainable solutions, whether it’s parking their money in term deposits or bonds. On the other side, borrowers are adopting greener business…
