New Stablecoin Tied to Australian Greenback Is Launching on Stellar’s Blockchain By CoinDesk

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© Reuters.

A brand new stablecoin is launching on the Stellar blockchain that is designed to carry its worth with the Australian greenback (AUD) and is being pitched for shopper and enterprise makes use of.

Introduced Tuesday on the Cash 20/20 convention in Las Vegas, Novatti Group, an Australian on-line funds processor, will challenge the Novatti AUD Utility Token starting on November 19. The token can be backed 1-for-1 with AUD held in a belief.

Whereas historically, stablecoins have been a device for cryptocurrency merchants to maneuver cash rapidly between exchanges, Novatti envisions its token getting used for extra frequent use instances, like remittances or purchases.

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