- Novatti Group Limited has expanded its stablecoin AUDD to the XRP Ledger.
- The move enables seamless payments, trading, and integration with existing payment tools, furthering Novatti’s foothold in the digital currency domain.
In a strategic move within the digital finance sector, Australian fintech pioneer, Novatti Group Limited, has announced the expansion of its stablecoin, AUDD, onto the XRP Ledger. Originally launched on the Stellar blockchain in late 2022, AUDD now broadens its horizons to the XRP Ledger, solidifying the connection between the Australian dollar (AUD) and digital transactions.
The inclusion of AUDD on the XRP Ledger allows users to leverage the stablecoin for various purposes, including facilitating payments and trading with other tokens existing within the XRP Ledger ecosystem. Novatti stresses the simplicity of accessing AUDD through any XRPL-enabled wallet, thus enhancing user convenience.
The integration of AUDD within Novatti’s suite of payment tools promises a smooth, intuitive experience for customers. Designed with versatility in mind, the stablecoin addresses several use-cases, ranging from remittance and payment gateway services to trading pairs and stablecoin-as-a-service.
Peter Cook, the CEO of Novatti Group, highlighted the broader implications of the AUDD expansion to the XRP Ledger. According to Cook, Novatti is well-positioned to satisfy the surging appetite for digital currencies and generate fresh revenue avenues while maintaining accessibility across multiple networks.
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The recent AUDD expansion is not the first time Novatti and XRP have joined forces. In a 2021 initiative, Novatti utilized Ripple’s On-Demand Liquidity service, capitalizing on XRP as a bridge currency for cross-border payments between Australia and the Philippines.
Recently, Novatti also contributed to an exploratory research project probing the potential advantages and applications of a Central Bank Digital Currency (CBDC) in Australia. In collaboration with the Digital Finance Cooperative Research Centre (DFCRC) and the Reserve Bank of Australia (RBA), Novatti issued eAUDD, an RBA-backed stablecoin, as part of the pilot project.
Novatti’s expansion of AUDD to the XRP Ledger signifies a crucial step in its mission to harness the burgeoning digital currency sector. By adopting cutting-edge technologies and forming key partnerships, Novatti continues to lead the charge in the fintech industry, guaranteeing its solutions are accessible across an array of networks.
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