New Zealand firm launches stablecoin backed by NZD
"Techemynt felt it was an ideal time to fill the gap in the market and lead the creation of a NZD-based stablecoin," said Fran Strajnar. Auckland-based financial service provider Techemynt announced the launch of a stablecoin reportedly backed by the New Zealand dollar.In a statement from Techemynt today, the firm announced it had launched a cryptocurrency backed 1:1 by the New Zealand dollar and deployed on the Ethereum blockchain by Blockchain Labs. Techemynt is a registered financial service provider with the country’s major financial watchdog, the Financial Markets Authority.The firm....
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Power Finance, led by former PwC partner, plans to launch a New Zealand digital dollar stablecoin early next year. New Zealand-based financial services company Power Finance plans to launch what it’s calling a “world-first” digital version of the New Zealand dollar. Set to launch early next year, the digital currency will employ Distributed Ledger Technology.The ‘Power Dollar’ is not government backed however and is more akin to a stablecoin like Tether than a true digital dollar. It is being set up privately and will be backed one-for-one by New Zealand dollars held by Inland Revenue (IR)....
Binance has officially launched a cryptocurrency exchange in New Zealand after successfully registering with the country’s financial regulator. “We see significant value in having a serious New Zealand presence,” said Binance CEO Changpeng Zhao (CZ).
Binance Launches Crypto Trading Platform in New Zealand
Global crypto exchange Binance announced Friday that it has successfully registered as a financial service provider with the New Zealand Ministry of Business, Innovation and Employment (MBIE). The crypto exchange also announced the official launch of....
The cryptocurrency exchange Coinflex has announced the launch of a unique interest-bearing stablecoin called Flexusd. The new stablecoin is considered to be the first dollar-backed crypto that pays interest at the base level. Moreover, the new token is built on the Ethereum blockchain and the Bitcoin Cash network as well by leveraging the Simple Ledger Protocol. The digital currency trading platform Coinflex has revealed the creation of a new stablecoin token that bears interest. A stablecoin is a cryptocurrency that is tied to the price of a fiat currency and traditionally it’s the....
On August 4, the precious metals firm Kitco Gold announced the launch of a gold-backed stablecoin which will leverage an audit process via Cohen & Company with monthly attestation reports. Kitco has partnered with Tradewind Markets, First Digital Trust, and Stably, an asset tokenization provider. The gold-backed ERC20 tokens called “kitco gold (KGLD)” “represent one true, troy ounce of fine gold,” according to Kitco. Kitco Launches KGLD Token Backed by a Troy Ounce of .999 Gold In the seventies, Bart Kitner started trading gold with funds he got from a loan and....
The new coin is named after a god in Irish mythology and will go by the ticker symbol EURL. Groupe Casino, a 120-year-old retail company headquartered in France, will reportedly be launching a stablecoin pegged to the Euro.According to journalist Grégory Raymond, the French retail giant will be launching the stablecoin to use in its stores’ loyalty programs as well as for trading. Groupe Casino oversees more than 11,000 stores in France and Latin America. The coin has reportedly been developed using the Tezos protocol in partnership with crypto exchange Coinhouse, accounting firm....