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Yeah you’re wrong. [visa posted this a few days ago.](https://www.visa.com.sg/content/dam/VCOM/regional/ap/singapore/global-elements/documents/interim-report-e-hkd-pilot-programme-phase-2.pdf) They used a private chain and public chain and two stablecoins, one from ANZ and one from the central bank of Hong Kong. Looks like they didn’t need a bridge currency and relied on CCIP from chainlink. Xrp is just another public chain in a sea of many. They’re not guaranteed anything.
Yeah I’m hoping the fraud dept at ANZ know me well enough by now with the amount of transactions I sent to Independent Reserve! I drained my full super balance in about a week! I used Tax on Chain and they were great. From initial contact to setup and rollover took about 4 weeks. Great communication and they know their stuff. I had heard Grow are good also. I guess do you research and see where you land. Fees are comparable between the two so it may come down to gut feel / personal preference
Pretty normal for ANZ fraud team to block initial transfers to an exchange. As you found out, once you jump through the hoops, they’ll let it through. Who did you use for the SMSF setup / accounting? I’ve heard Grow SMSF is good.
This gets mentioned a lot. But why would institutions care when they are running their own chains? JP Morgan; kinexy. BNY Mellon, Goldman; Canton BoA; Paxos Trust (permissioned stable network) ANZ; ADDX Lloyds; WaveBL. DTCC; composerX
I've deposited to various exchanges from ING, ANZ plus and ME bank and never had an issue with any of them
NAB seem ok. Had nothing but headaches from ANZ and CBA aren’t even interested in meeting halfway. Had no dramas with NAB transferring small amounts but they did get funny on my first big transfer and shut me out. It was frustrating but I didn’t mind when I found out that they assumed it was dodgy and stopped it on the spot. Answered a few questions and I guess when they were happy I was doing it of my own volition, they unlocked everything. Took less than an hour from start to finish. Have made 2 more biggish transfers since with no hassles.
>I disagree that “every bank will run its own chain”. JP Morgan; kinexy BNY Mellon, Goldman; Canton BoA; Paxos Trust (permissioned stable network) ANZ; ADDX Lloyds; WaveBL There is plenty of evidence. You just aren't looking for it. 2-3 chains won't win. All chains will lose equally.
Don't know of any way to have the 25k shield limit increased. ANZ seem to be fine with using the V2 account as a pure SMSF account and being used for Crypto.
So using anz shield or voice id could not get that 25k limit upped at all? Did you find ANZ ok with knowing your SMSF would be investing in crypto? I have shortlisted my bank choices to either ANZ or Suncorp. I already bank with ANZ so it may be easier to set up. The 25k daily limit will not be terrible I guess it’s just the lump sum rollover from my existing fund and then allocating that to an exchange to purchase I would rather do in larger chunks but after that I would not be hitting that limit again anyway so would not be an issue.
No just ANZ in general you can only transfer 10k/day via the web but you can do up to 25K/day via the app. I had a bit of a delay on the first transfer to coinspot but after that every transfer has been instant. Interest on the V2 account is paid quarterly so I am still waiting to see if there are any other fees or t/c's that make you miss out on the interest.
Is that 25k daily limit for investing in general or specific to crypto? I asked chat gpt about banks and it seems to think ANZ is not crypto friendly and has a 10k per month limit sending money to exchanges???
I have a ANZ V2 plus ok which has been ok so far but I don’t like the 25k daily transfer limit. Shop around. Keen to see what others you find.
ANZ was fine but drew the line at Travelex!
I was also wondering this a few weeks ago. ANZ had temporarily locked my card as I was purchasing BTC from random vendors. However I raised a fuss and they called me to check that I wasn't being stupid with my security and once I assumed them I knew what I was doing they put special conditions on my account to stop it from being clocked again. I think they're about as crypto friendly as you can get for the main banks.
Chainlink is integrated throughout a majority of crypto and is a crucial piece. Coinbase, Hedera, Aave, Arbitrum, Ripple, Solana, Tron, on and on... are all partnered with or integrated with Chainlink. Then, they have a massive reach into traditional finance, bridging the gap with crypto. They're partnered with SWIFT, Fidelity, The DTCC, UBS, Citi, JP Morgan, BNY Melon, BNP Paribas, Edward Jones, ANZ, Franklin Templeton, Trump's World Liberty Financial, the Central bank of Brazil, etc. SWIFT is going live in production with Chainlink later this year for their 11,500 financial institutions.
I just found out ANZ has $10k limit in my first 24 hrs! Need to open sever bank access I suppose.
Pretty much everything tied to crypto uses Chainlink (LINK). Coinbase uses them, XRP uses them, HBAR is partnered with them, AAVE and basically all of Defi uses them. Same with TradFi now. They're partnered with SWIFT and are going in production this year for their 11,500 financial institutions. Partnered with Fidelity, US Bank, Citi, JP Morgan, Franklink Templeton, BNY Melon, USB, BNP Paribas, ANZ, etc. Trump's WLF uses them and has purchased millions of LINK. The central bank of Brazil is using them alongside Microsoft for their CBDC. The list goes on and on. That's a network effect that outpaces almost every other crypto out there and should last a long time.