According to the public statement that was made on Money 20/20 conference in Las Vegas, Novatti Group, an Australian online payments processor, will issue the Novatti AUD Utility Token that will be tied to Australian dollars (AUD).
A new stablecoin is built on the Stellar blockchain and will be will be backed 1-for-1 with AUD held in a special trust. As it was also stated by the company, Novatti considers its token to be used not only for hedging and transfers between exchanges but also for remittances, purchases, etc.
Novatti Group is an Australia based global software technology and systems integration, provider. Novatti helps economies, corporations, and consumers digitize cash transactions.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.