Australian payments firm Novatti expands its AUDD stablecoin to XRP Ledger

Australian payments fintech company Novatti Group Limited has extended its Australian dollar-backed stablecoin AUDD to the XRP Ledger, according to a press release shared with. crypto slate.Australian dollar was first launched According to the statement, 1.1 swaps with AUD will be available on the Stellar blockchain via the XRP Ledger in November 2022.

With this extension, users will be able to make payments using AUDD and trade with other XRPL-based tokens. According to the company, users will be able to access AUDD through any XRPL-enabled wallet.

Novatti integrates AUDD with its existing suite of payment tools. The stablecoin is designed to address use cases such as remittances, payment gateways, trading pairs, and stablecoins as a service, the company said.

Novatti Group CEO Peter Cook said in a statement:

“By bringing AUDD to the XRP Ledger, we are fulfilling our promise to make our solution available on multiple networks while capturing the growing demand for digital currency and creating a new revenue stream for our business. I can.”

This is not the first time XRP and Novatti have collaborated. In April 2021, Novatti will become Ripple’s
On-demand liquidity service. Use XRP as a bridge currency between two fiat currencies.
A currency for cross-border payments between Australia and the Philippines.

Novatti recently I participated Research in a research project aimed at investigating the use cases and benefits of Central Bank Digital Currencies (CBDC) in Australia. The project was led by the Digital Financial Cooperation Research Center (DFCRC) and the Reserve Bank of Australia (RBA). In the pilot project, Novatti launched his eAUDD, a stablecoin fully backed by his RBA-issued pilot CBDC.

It first appeared on CryptoSlate after Australian payments firm Novatti extended the AUDD stablecoin to the XRP Ledger.