Former PwC partner to launch New Zealand ‘Power Dollar’ stablecoin
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)....
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