2 years ago
Australian payments fintech Novatti Group Limited has expanded its Australian dollar-backed stablecoin AUDD to XRP Ledger, according to a property merchandise shared with CryptoSlate. AUDD, which was archetypal launched successful November 2022 connected the Stellar blockchain, volition beryllium disposable for 1.1 swaps with AUD via XRP Ledger, arsenic per the statement.
The enlargement means users tin utilize AUDD to marque payments and commercialized with different XRPL-based tokens. Users volition beryllium capable to entree AUDD done immoderate XRPL-enabled wallet, the steadfast said.
Novatti is integrating AUDD with its existing suite of outgo tools. The stablecoin is designed to service usage cases similar remittance, outgo gateway, trading pair, and stablecoin-as-a-service, the steadfast said.
Peter Cook, CEO of Novatti Group, noted successful the statement:
“By deploying AUDD connected the XRP Ledger, we volition beryllium capable to seizure the increasing request for integer currencies and make caller gross streams for our business, portion delivering connected our committedness to marque our solution disposable to aggregate networks.”
This is not the archetypal clip XRP and Novatti person collaborated. In April 2021, Novatti utilized Ripple’s
On-Demand Liquidity service, which uses XRP arsenic a span currency betwixt 2 fiat
currencies, for cross-border payments betwixt Australia and the Philippines.
Novatti had besides precocious participated successful a probe task aimed astatine exploring the usage cases and benefits of a cardinal slope integer currency (CBDC) successful Australia. The task was led by the Digital Finance Cooperative Research Centre (DFCRC) and the Reserve Bank of Australia (RBA). In the aviator project, Novatti issued eAUDD, a stablecoin afloat backed by the aviator CBDC issued by the RBA.
The station Australian payments steadfast Novatti expands its AUDD stablecoin to XRP Ledger appeared archetypal connected CryptoSlate.
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