Case study · NAB
NAB Stablecoin Service Blueprint
A service blueprint showing exactly how NAB would issue and safekeep a stablecoin, and where the gaps were.
- The customer
- Institutional and corporate customers already in crypto, who need a trusted local-currency stablecoin and secure custody
- Team
- Risk and business analyst, executive and me
- Skills
The problem
NAB had no shared view of how issuing and safekeeping a stablecoin would work end to end, or of the people and systems needed to support it. That made stakeholder conversations hard.
How I solved it
- 01Ran ongoing process-mapping workshops with the product managers overseeing the build, across Wealth, Risk and Business Strategy.
- 02Mapped start-to-end flows for creating, destroying and receiving stablecoin.
- 03Marked risks, ownership, customer touchpoints and system dependencies.
- 04Worked through our executive to find out who held the most knowledge.
Outcome
The blueprint aligned teams on confirmed steps and gaps, gave executives and partners a clear story, and showed where more risk controls were needed. The program was piloted, then not scaled after the business reprioritised.
Inside the work
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Payer has been onboarded to the stablecoin desk through ECDD (enhanced customer due diligence)
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Payer places a remittance instruction, which is received and confirmed by the NAB stablecoin desk
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Multi-signature approval process, settled through Fireblocks (an external platform that maintains compliance)
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Payer currency is converted to local currency (AUDN)
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Payer currency is burnt and AUDN has settled
What I learned
Finding who had the best knowledge was the hardest part. Going straight to our executive, who knew who knew what, saved weeks.