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This news item is part of the weekly top 5 news bulletin (from Week 4, Jan 2023) specially packaged for leaders of Nonprofits, Churches, and Faith-based Social Ventures.

[Web3] NAB bank launches AUDN Stablecoin pegged to Australian dollar

In our Web3 news, we look at a major Australian bank, NAB Bank, launching their own stable coin, which is pegged to the Australian dollar. National Australia Bank, which is the NAB bank, is the second bank now out of the four major banks operating in Australia to announce their own stable coin. ANZ was the first bank to make that announcement. And now we have NAB’s announcement. These stable coin,AUDN will be backed one is to one by the Australian dollar.And when it comes to operation in real time,and if it enables cross border remittances, then this could become a potential alternative to the swift payment network system that is currently being used by the banks today, which is a little more costlier. The other interesting part is Australia’s Reserve Bank is also piloting their own CBDC central bank digital currency as we speak. So it’ll be interesting to see how all of this work together.

Here is the full list of the Top 5 News Items from Week 4, January 2023 with source links from Discord, Wikipedia, Twitter, OpenAI, ChatGPT, Meta.

🗞️ News 1: Twitter announces ‘Verification for Organizations’ & annual payment 

Source: Twitter | The Verge

🗞️ News 2: Discord acquires Gas app; Meta partners with Shutterstock for AI 

Source: Discord | Ad Week

🗞️ News 3: Wikipedia Website gets a Design & Interface Makeover after a Decade

Source: Wikimedia Foundation

🗞️ News 4: OpenAI CEO shares details on Future plans – Video AI, ChatGPT, Microsoft   

Source: TechCrunch

🗞️ News 5: [Web3] NAB bank launches AUDN Stablecoin pegged to Australian dollar

Source: Australian Financial Review

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