Stellar (XLM) Based Stablecoin To be Pegged to the Australian Dollar (AUD)

Stellar (XLM) Based Stablecoin To be Pegged to the Australian Dollar (AUD) 1

Reports reaching Ethereum World News, indicate that a new stablecoin will be launched on the Stellar blockchain that is pegged to the Australian Dollar (AUD). It will keep its value in a manner similar to how traditional stable coins have used the USD as reference as well as being backed by the fiat currency. In this case, the new stablecoin by Novatti Group, will also be backed by the Australian Dollar (AUD).

In an interview to Coindesk during the recently concluded Money 20/20 event in Las Vegas, Peter Cook, Novatti’s Managing Director, explained his vision for the coin beyond crypto market trading:

We think that people will use them [stablecoins] to help purchase goods from Australian enterprises. And we think that will also use them for the payment of bills or for services inside of Australia.

With regards to which bank the firm intends to work with to follow through on this new venture, Mr. Cook had this to say:

We will be working with licensed money service businesses, banks and enterprises, who want access to digital assets. Novatti is a publicly listed company, it’s listed on the Australian stock exchange. So that should give [users] a lot of trust.

The new stablecoin joins a budding list of other stablecoins such as Circle’s USDC, Huobi’s HUSD, Tether (USDT), TrueUSD (TUSD), Paxos Standard Dollar (PAX) and the Gemini Dollar (GUSD).

About Novatti

Novatti is a global software technology and systems integration provider that focuses on the demand for alternative methods of transferring money rapidly. The demand for such services enables telco, financial and other network service providers to deliver a strong value proposition within their ecosystem and target market. The firm is a licensed payments distributor that processes payments for firms such as Vox Telecom and South African remittance provider of MoniSend.

[Image courtesy of KryptoMoney.com]

Disclaimer: This article is not meant to give financial advice. Any opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

Stellar (XLM) Based Stablecoin To be Pegged to the Australian Dollar (AUD) 2
About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



bitcoin
Bitcoin (BTC) $ 42,212.00
ethereum
Ethereum (ETH) $ 2,861.83
cardano
Cardano (ADA) $ 2.24
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 341.26
xrp
XRP (XRP) $ 0.922892
solana
Solana (SOL) $ 130.56
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 28.83
dogecoin
Dogecoin (DOGE) $ 0.205658
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 42,212.00
ethereumEthereum (ETH)
$ 2,861.83
tetherTether (USDT)
$ 1.00
bitcoin-cashBitcoin Cash (BCH)
$ 507.47
litecoinLitecoin (LTC)
$ 148.02
bitcoinBitcoin (BTC)
35.963,36
ethereumEthereum (ETH)
2.438,19
tetherTether (USDT)
0,851970
bitcoin-cashBitcoin Cash (BCH)
432,35
litecoinLitecoin (LTC)
126,11
bitcoinBitcoin (BTC)
30,801.46
ethereumEthereum (ETH)
2,088.23
tetherTether (USDT)
0.729685
bitcoin-cashBitcoin Cash (BCH)
370.29
litecoinLitecoin (LTC)
108.01

Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021
Cryptocurrency Exchanges
Cryptocurrency Exchanges and the Plague of Scams and Bans
June 29, 2021
What Role Do Cryptocurrencies Play In The Era Of Ransomware Attacks?
June 9, 2021

Blockchain/Cryptocurrency Questions and Answers

Beginner’s Guide to Investing in Cryptocurrency
August 9, 2021
Short-Sell Cryptocurrency
How to Short-Sell Cryptocurrency: A Brief Overview
July 17, 2021
Klaytn
What Is Klaytn (KLAY) And How Does It Work?
July 16, 2021
Cryptocurrencies
Our Crypto Roundup Interview Asks- Do Cryptocurrencies Have a Future?
July 15, 2021
Solana
What Is Solana (SOL) And How Does It Work?
June 26, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin42,050 1.17 % 1.99 % 12.88 %
Ethereum2,841.5 1.82 % 3.46 % 17.10 %
Cardano2.230 1.73 % 6.06 % 5.95 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Binance Coin339.94 1.00 % 5.75 % 17.39 %
XRP0.9187 1.33 % 3.72 % 14.60 %
Solana129.83 1.37 % 8.18 % 23.68 %
USD Coin1.000 0.56 % 0.09 % 0.26 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2046 1.26 % 3.83 % 15.44 %

bitcoin
Bitcoin (BTC) $ 42,212.00
ethereum
Ethereum (ETH) $ 2,861.83
cardano
Cardano (ADA) $ 2.24
tether
Tether (USDT) $ 1.00
binance-coin
Binance Coin (BNB) $ 341.26
xrp
XRP (XRP) $ 0.922892
solana
Solana (SOL) $ 130.56
usd-coin
USD Coin (USDC) $ 1.00
polkadot
Polkadot (DOT) $ 28.83
dogecoin
Dogecoin (DOGE) $ 0.205658