ANZ Bank has successfully completed a pilot project with the Reserve Bank of Australia (RBA) and Digital Finance Cooperative Research Centre using central bank digital currency (CBDC) to trade carbon credits. ANZ collaborated with Grollo Carbon Ventures (GCV) to tokenize Australian Carbon Credit Units (ACCUs) and utilized their A$DC stablecoin for the purpose of trading carbon credits on a public and permissionless blockchain.
Settlement took place in near real-time using ANZ smart contracts. The initiative marks the first use of an Australian dollar-backed stablecoin in conjunction with CBDC support for carbon credit trading.
