Novatti will launch the Australian multi-chain stablecoin

Novatti Group is about to launch AUDC, the stablecoin pegged to the Australian dollar AUD. Specifically, the project was developed in collaboration with Ripple and leverages Stellar’s blockchain. 

Novatti, Ripple and Stellar to launch new Australian stablecoin AUDC

Earlier this month, international payments company Novatti Group, formerly a partner of Ripple, announced the development and launch of a new Australian dollar-pegged stablecoin that will leverage Stellar’s blockchain. 

This week, leading fintech @NovattiPayments announced that it will launch an Australian dollar backed stablecoin on Stellar ?? https://t.co/uO7KTR3Jyb

— Stellar (@StellarOrg) May 6, 2022

“This week, leading fintech @NovattiPayments announced that it will launch an Australian dollar backed stablecoin on Stellar”.

In practice, the new AUDC stablecoin, backed 1:1 by the fiat value of AUD, has been developed on Stellar’s open-source blockchain, with a design that also lends itself to being leveraged by other blockchain networks in the future.

Not only that, AUDC will be integrated into Novatti’s existing suite of payment solutions, giving customers even more choice while creating new use cases for business with potential for faster and cheaper domestic, cross-border and billing payments. 

Novatti, Ripple and Stellar and the launch of the Australian stablecoin AUDC

At the moment, the new stablecoin AUDC has not yet been officially launched, which is why the Novatti Group itself alerted its followers on Twitter:

AUDC stablecoin has not been formally launched. Any current websites or listings relating to AUDC are not official. We urge our customers, partners, or other parties to avoid interacting with these bogus sites or listings. Official news here or on Telegram https://t.co/XvbBpkIpFb

— Novatti (@NovattiPayments) June 10, 2022

“AUDC stablecoin has not been formally launched. Any current websites or listings relating to AUDC are not official. We urge our customers, partners, or other parties to avoid interacting with these bogus sites or listings. Official news here or on Telegram”.

At the same time, AUDC’s announcement is not exactly new. Indeed, it was in 2018 when Peter Cook, Managing Director of Novatti, was talking about Australian stablecoin on Stellar for commercial and corporate uses, but perhaps at the time, this was all not yet possible to develop. 

Partnership with Ripple

It was late 2020 when Novatti Group officially began its partnership with Ripple, dedicated to managing cross-border transactions between Australia and Asia, leveraging RippleNet. 

Only a few months later, in April 2021, the Novatti-Ripple partnership led to the management of exchanges between Australia and the Philippines through the iRemit provider.