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Novatti Group Limited (ASX:NOV), a prominent fintech company facilitating seamless financial transactions, is excited to announce the launch of its fiat-backed stablecoin, AUDD, on the XRP Ledger (XRPL). This development marks a significant step toward enhancing the efficiency and accessibility of digital currency transactions on the XRPL.
AUDD on the XRP Ledger: Fast and Affordable Transactions
AUDD is now available on the XRP Ledger for direct 1:1 conversion with fiat Australian Dollars. The XRPL's attributes, including speed (3-5 seconds per transaction) and low transaction costs (fractions of a cent per transaction), make it an ideal platform for the seamless exchange of AUDD.
Global Access and Usage
With AUDD's presence on the XRPL, users worldwide gain the ability to make payments and engage in trading activities involving other XRP-based tokens through the native decentralized exchange (DEX). Access to AUDD is facilitated via any XRPL-enabled wallet, offering a user-friendly experience for individuals and businesses alike.
Unlocking New Possibilities
This integration is a testament to Novatti's commitment to leveraging the XRPL's native digital asset, XRP, for cross-border transactions. It builds upon Novatti's successful utilization of Ripple's On-Demand Liquidity service, which utilizes XRP as a bridge currency for cross-border remittances between Australia and the Philippines.
Peter Cook, CEO of Novatti Group, Comments:
Peter Cook expressed Novatti's enthusiasm for expanding their stablecoin offerings, emphasizing their goal to provide faster, more secure, and cost-effective payment solutions. He highlighted that deploying AUDD on the XRPL enables Novatti to cater to the growing demand for digital currencies while exploring new revenue streams.
Continuing Momentum
This move comes on the heels of Novatti's participation in the RBA and Digital Finance CRC's Central Bank Digital Currency (CBDC) pilot, focusing on potential use cases for a central bank digital currency in Australia. AUDD is seamlessly integrating into Novatti's suite of payment solutions and is poised to serve various purposes, including remittance, gateway services, trading pairs, and Stablecoin-as-a-Service.
About Novatti Group Limited (ASX:NOV)
Novatti is a leading fintech company that empowers businesses to send and receive payments from anywhere, using any device. Their solutions cater to businesses of all sizes, from local stores and startups to global organizations, facilitating their financial ambitions. Novatti's offerings encompass acquiring, billing, issuing, processing, and banking services through International Bank of Australia Pty Ltd (IBOA), operating under a Restricted Authorised Deposit-taking Institution license.
About XRP Ledger
The XRP Ledger (XRPL) stands as an open-source, decentralized Layer 1 blockchain, powered by a global community of developers. Known for its speed, energy efficiency, and reliability, XRPL has been at the forefront of enabling the settlement and liquidity of tokenized assets on a large scale for over a decade. Offering ease of development, minimal transaction costs, and a knowledgeable community, XRPL provides developers with a robust open-source foundation for executing demanding projects without compromising the platform's lean and efficient feature set. XRPL supports various services and use cases, including payments, on-chain finance, and tokenization. Learn more at XRPL.org.
