Provider of online payments Novatti Group from Australia announced the release of 19 November, stable token tied to Australian dollar (AUD). Stablon Utility Novati AUD will be based on the blockchain Stellar.
Each stable coin Novatti Group will be supported 1:1 Australian dollars held in trust for the company.
Stabilini usually used for cryptocurrency exchanges as a tool for additional liquidity and as a replacement for Fiat currency in trade. Novatti has another purpose of its stable coins — cash transfers, payments and payment.
At the conference, Money 20/20 in Las Vegas, managing Director of the Novatti Group Peter cook (Peter Cook) explained to CoinDesk:
“We think people will use them to help purchase goods from Australian businesses. And we believe that they will also use them to pay bills or services within Australia.”
Novatti is a licensed distributor payments and public company registered on the Australian stock exchange. According to cook, this should give new stable cryptocurrency more trust from users. He added that the use stabilini the company will work with other licensed organizations including banks, but specific names are not called.
Previously on the joint release of the token is also tied to AUD, announced the Australian bitcoin exchange Bit Trade and blockchain company Emparta. The event is scheduled for early next year.
The most popular currency anchor for a stable token is the US dollar, this year to the controversial USDT company Tether added USD Coin (USDC) from a Circle, Paxos Standard (PAX) blockchain startup Paxos and Gemini Dollar (GUSD) from the Gemini Trust the Winklevoss brothers.
Meanwhile, the company Stasis has announced the launch of stable token EURS with reference to the Euro and the British crypto currency exchange London Block Exchange (LBX) is going to release a stable token LBXPeg supported by£.