New Zealand’s Kiwi Dollar-Pegged Stablecoin NZDD Embarks With New Self-Custody Wallet
New Zealand-based crypto exchange Easy Crypto and Australian blockchain firm Labrys launched a new NZ dollar-pegged stablecoin on Wednesday.
Dubbed NZDD, the stablecoin will be regulated by the New Zealand Financial Markets Authority, a company statement read. The stablecoin will be initially available on Ethereum and has plans to expand to other chains including Polygon, and Arbitrum.
Keep an eye out for an upcoming episode with Easy Crypto talking about the new wallet and new #stablecoin!
#NZDD #investing #alternative #assets #realdiversification pic.twitter.com/Wt9EPq1Gri
— Darcy Ungaro (@UngaroDarcy) November 21, 2023
Easy Crypto’s co-founder and CEO Janine Grainger wrote that the NZDD stablecoin offers a stable entry into the digital marketplace. It embraces the trustworthiness of the New Zealand Dollar with all the benefits of blockchain, she added.
“Everything is going digital – including currency – but what makes many people hesitate is the stability of these assets. We wanted to change this by offering a trusted NZ dollar-backed stablecoin that bridges the gap between traditional finance and the digital age.”
Further, Grainger noted that only 10% of the New Zealand population owns crypto assets. Some of the key barriers restricting the rest of the population from getting involved include volatility and complexity.
“we’re focused on solving these challenges as digitization grows,” she said. “Kiwis need a seamless onramp to crypto.”
Alongside, the announcement also embarked a new multicurrency self-custody wallet, which acts as “one wallet for all your crypto.” The wallet comes with unlimited sub-wallets, multiple blockchains and a broad breadth of coins backed by state-of-the-art security.
“Managing your crypto shouldn’t
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