Novatti launched the Novatti AUD Utility Token on Stellar Network, a one-to-one AUD-backed stablecoin. As the first AUD anchor on Stellar, Novatti enables instant AUD payments and settlements with access to global foreign exchange via the Stellar Network.
Novatti announced the launch of the Novatti AUD Utility Token, a stablecoin on the Stellar Network backed one-to-one by Australian dollars and held in trust by Novatti's licensed subsidiary Flexewallet Pty Ltd. The token enables consumers and institutions to instantly accept and settle payments in AUD while accessing foreign exchange through Stellar's global network. Novatti becomes the first AUD anchor on Stellar, acting as a bridge between fiat currency and the network by accepting inbound payments, processing withdrawals, and facilitating transactions for KYC'd users. Reserve holdings are fully matched to tokens in circulation, eliminating price volatility concerns. The service entered beta with an official launch scheduled for November 19, 2018.