Founded in 2015, Ripple client Novatti Group has launched a stablecoin (pegged to an Australian dollar) that they plan to issue on the XRP Ledger.AUDC) announced that it was built.
Novatti Group for AUDC Ripple and Stellar announced the creation of a partnership. The most important benefit of this partnership will be to help make international payments easier.
Novatti Group is one of more than 300 companies Ripple has partnered with, and they launched instant digital payment services in each of Australia and the Philippines last year. Novatti is currently trying to create a stablecoin based on the Australian dollar.
The company, which also wants to expand in the field of cross-border digital payments, will integrate AUDC into these payments and try to increase efficiency using two competing blockchains.
🔥 JUST IN: Novatti announces stablecoin deals with Stellar & Ripplehttps://t.co/Vs1A4EcCj2 pic.twitter.com/gz4PFZs9gF
— Cryptic Poet 👑 (@1CrypticPoet) June 9, 2022
stellarwas founded by Ripple co-founder and former CTO Jed McCaleb after leaving Ripple Labs in 2013.
Novatti CEO Peter Cook believes the launch of AUDC will help the company become a larger part of the rapidly growing digital payments market as cryptocurrency adoption grows.
The stablecoin will be backed to be pegged at a ratio of 1:1 to the Australian Dollar.
The stablecoin can be purchased with AUD, deposited on the blockchain without any international transfer fees, and then held in crypto in a wallet or cashed in AUD.
Novatti aims to profit from fees as well as transaction and merchant fees through stablecoin conversions as soon as the company adds them to their network.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.