Novatti announced AUDC integration with Ripple’s XRP Ledger: experience fast and lower-cost transactions

Novatti Group has announced that its stablecoin AUDC has been integrated into Ripple’s XRP Ledger. On XRPL, the firm expects to gain from fast and lower-cost transactions, according to the company.

This is huge…

Novatti’s existing suite of digital payment technologies will be combined with stablecoin to build low-cost domestic and cross-border payment protocols possibly.

Novatti’s existing payment options will also be integrated with AUDC. In a news statement, the business stated that it plans to develop a low-cost domestic and cross-border payment system, including stablecoin-linked payment cards.

“We are certain that demand for digital currencies will continue to rise in the future.” Novatti’s AUDC stablecoin will be deployed on the XRP Ledger to assist it in harnessing this expanding demand and, as a result, position itself to generate new income streams, according to Peter Cook, Managing Director of Novatti.

Ripple will offer the required technical assistance to integrate AUDC into XRPL, according to Novatti. Novatti’s new stablecoin is backed by an Australian dollar fiat value of 1:1.

Low-cost payments

The AUDC will be tied to the Australian dollar 1:1. They, like other stablecoins, may be quickly transmitted to a recipient’s wallet via the blockchain network, without the typical banking costs associated with such international transfers. 

The firm used Ripple’s On-Demand Liquidity solution to deliver remittance services between Australia and the Philippines in April 2021.

Ripple’s payments network is used by approximately 300 financial institutions worldwide, including Novatti. 

The blockchain project has teamed with Lunu, a Berlin-based crypto payment service, to allow luxury stores to accept digital asset payments online and in-store using Ripple’s Liquidity Hub.

In July of last year, Visa granted Novatti Group permission to issue a cryptocurrency-based debit card in collaboration with New York-based custodian BitGo.

Integration for betterment

The stablecoin will be incorporated into the company’s existing payment systems, according to Novatti, giving individuals and companies new options to pay and be paid.

“It will be incorporated into Novatti’s existing portfolio of payment products, giving clients a new and novel method to pay and be paid, as well as the opportunity for quicker and lower-cost domestic, cross-border, and invoicing payments, as well as stablecoin-linked payment cards,” the press release from Novatti said.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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