OpenZeppelin To Secure ANZ Bank’s A$DC Stablecoin On The Hedera Network

Twitter icon  •  Published 1 year ago  •  Hassan Maishera

OpenZeppelin, a leader in Web3 security and auditing, will integrate its OpenZeppelin Defender and OpenZeppelin Contracts services with the Hedera network.

HBAR Foundation, the development team behind the Hedera blockchain, announced via a blog post on Wednesday that OpenZeppelin, a leader in Web3 security and auditing, will integrate its OpenZeppelin Defender and OpenZeppelin Contracts services with the Hedera network.

The HBAR Foundation added that the integrated solution will first be used by ANZ Bank — Australia’s second-largest bank by market capitalization - to deploy A$DC, an Australian dollar-backed stablecoin. The initiative is an opportunity for ANZ to further test its A$DC on a fast, highly scalable, and low-energy consumptive network.

Hedera Hashgraph is distributed public ledger infrastructure. According to the team, it offers significant improvements over existing blockchains in five areas: performance, security, governance, stability, and regulatory compliance.

HBAR is trading at $0.0680 at press time, up by more than 2% over the last 24 hours.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.