Auckland-based financial support supplier Techemynt announced the launching of a stablecoin allegedly endorsed from the New Zealand dollar.
In an announcement from Techemynt now, the company announced it had established a cryptocurrency endorsed 1:1 from the New Zealand dollar and deployed about the Ethereum blockchain from Blockchain Labs.
The company said it’d be supplying the NZD stablecoin straight to some clients who wish to buy over $100,000 NZD values — approximately $70,000 USD. Crypto users may also locate the market on New Zealand-based crypto market Dassetx, together with Techemynt stating it intends to incorporate the stablecoin with much more trades in the long run.
“involving the prevalence of this New Zealand Dollar and the proliferation of cryptocurrency, Techemynt believed it was a perfect moment to meet with the gap on the current market and direct the invention of an NZD-based stablecoin,” explained Techemynt executive manager Fran Strajnar. “After almost a year of growth, $NZDs is currently first to completely implement and deliver to the promise of earning a New Zealand Dollar stablecoin into the planet.”
Based on Techemynt’s site, the NZD financing for your stablecoin is going to be supported by a “major accounting company” on a yearly basis.
A few New Zealand-based financial companies have tried to trouble stablecoins endorsed by the nation’s dollar previously. More recently, financial services firm Power Finance stated it intended to establish a non-government-backed electronic variant of the New Zealand dollar in ancient 2021.