Cryptocurrency retailer launch NZ dollar-backed stablecoin

6 views 3:16 pm 0 Comments November 21, 2023

Auckland-based Easy Crypto will offer a digital currency backed one-to-one to the New Zealand dollar.

New Zealand’s largest cryptocurrency retailer is launching its first stablecoin as a practical and viable transaction choice.

Auckland-based Easy Crypto will offer its NZDD coin, backed one-to-one to the New Zealand dollar, to money held in a local bank account.

Chief executive Janine Grainger said stablecoin is a cryptocurrency that can bridge the gap between traditional finance and the digital age because it is still tied to an existing asset.

“If you’re already in crypto assets, it’s a straightforward way to move in and out of the stable-store-a-value into the more volatile currencies, and you can do that near-instantly 24/7 with meager fees.

“I firmly believe that assets are increasingly digitizing, and over the next 10 to 20 years, we’ll see most assets go onto digital forms into some sort of tokenized version of assets.”

She saw many businesses and institutional customers turn to cryptocurrency to manage payments and billing.

“People doing business internationally are taking advantage of the lower fees for cross-border payments.

An increasing number of businesses are adopting cryptocurrency as a viable form of payment. Moreover, a growing trend among international transactions involves customers paying or billing in cryptocurrency assets.

Easy Crypto is also launching a digital wallet for customers to streamline the safe storage of their assets online.

“Managing your crypto shouldn’t be daunting, and you certainly shouldn’t need a collection of different wallets,” Grainger said.

“We wanted to simplify the crypto experience, offering a secure, all-in-one solution to effortlessly and securely store and manage digital assets for beginners and seasoned crypto investors.”

Easy Crypto’s exchange launched six years ago and has since set up shop in Australia and South Africa, with more than 100,000 people among its users.

“We have transacted over $2 billion in total sales to date,” Grainger said.

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