A$DC Stablecoin Used to Buy Tokenized Carbon Credit Units

In the deal, private investment firm Victor Smorgon Group used A$DC to purchase Australian Carbon Credit Units (ACCUs), which were tokenized by BetaCarbon, a carbon trading platform, to create BCAU digital security tokens.

This is the second collaboration between Victor Smorgon Group, ANZ and Zerocap after A$DC was used to move Australian dollars into the crypto ecosystem in March. This reduced foreign exchange costs and risks for Victor Smorgon.

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Digital asset manager Zerocap acted as a market maker in the deal, creating liquidity for A$DC. Because BetaCarbon was accepting the USDC stablecoin for its BCAUs and not A$DC, Zerocap created a market between A$DC and USDC, allowing Victor Smorgon to purchase BCAU in Australian dollar-denominated stablecoins.

Image: Blockworks