Australian funds fintech Novatti Group Restricted has expanded its Australian dollar-backed stablecoin AUDD to XRP Ledger, based on a press launch shared with CryptoSlate. AUDD, which was first launched in November 2022 on the Stellar blockchain, shall be obtainable for 1.1 swaps with AUD by way of XRP Ledger, as per the assertion.
The growth means customers can make the most of AUDD to make funds and commerce with different XRPL-based tokens. Customers will be capable to entry AUDD by way of any XRPL-enabled pockets, the agency stated.
Novatti is integrating AUDD with its present suite of cost instruments. The stablecoin is designed to serve use circumstances like remittance, cost gateway, buying and selling pair, and stablecoin-as-a-service, the agency stated.
Peter Cook dinner, CEO of Novatti Group, famous within the assertion:
“By deploying AUDD on the XRP Ledger, we will seize the rising demand for digital currencies and create new income streams for our enterprise, whereas delivering on our promise to make our answer obtainable to a number of networks.”
This isn’t the primary time XRP and Novatti have collaborated. In April 2021, Novatti used Ripple’s
On-Demand Liquidity service, which makes use of XRP as a bridge forex between two fiat
currencies, for cross-border funds between Australia and the Philippines.
Novatti had additionally just lately participated in a analysis undertaking aimed toward exploring the use circumstances and advantages of a central financial institution digital forex (CBDC) in Australia. The undertaking was led by the Digital Finance Cooperative Analysis Centre (DFCRC) and the Reserve Financial institution of Australia (RBA). Within the pilot undertaking, Novatti issued eAUDD, a stablecoin totally backed by the pilot CBDC issued by the RBA.
The publish Australian funds agency Novatti expands its AUDD stablecoin to XRP Ledger appeared first on CryptoSlate.