Easy Crypto, New Zealand’s largest exchange, unveils NZDD and a digital wallet, enhancing accessibility to the cryptocurrency market.
In New Zealand, Easy Crypto has introduced two products: a new cryptocurrency called NZDD and a new digital wallet. The largest cryptocurrency exchange in New Zealand hopes to provide a reliable gateway into the cryptocurrency market in this way.
The introduction of NZDD stablecoin and a new cryptocurrency wallet in New Zealand
Easy Crypto, the biggest non-custodial cryptocurrency exchange in New Zealand, has announced the release of its two new products.
These are a new cryptocurrency wallet to store all other cryptoassets along with the NZDD stablecoin, which is based on the value of the New Zealand dollar.
By fusing the dependability of the New Zealand dollar with all the advantages of blockchain, these goods seek to provide customers with a stable entrée into the digital market.
Furthermore, NZDD and the new cryptocurrency wallet aim to streamline the industry experience in order to boost the uptake of cryptocurrencies.
With the NZDD stablecoin, Easy Crypto hopes to boost the use of cryptocurrencies in New Zealand
Easy Crypto’s CEO and co-founder Janine Grainger had the following to say about the advantages of the recently launched NZDD stablecoin:
“NZDD bridges the gap between traditional finance and the digital age. NZDD brings the benefits of digitisation to the New Zealand Dollar; backed 1:1 with Kiwi dollars held in a bare trust; meaning your NZDD is safe and flexible. The stablecoin has also been structured to fit in with New Zealand regulations.”
The announcement claims that, in contrast to the conventional system, stablecoin provides users with low-cost, rapid, and dependable transactions as well as round-the-clock access to the currency (without the need for pointless banking paperwork, exorbitant fees, or lengthy lead times).
Additionally, it makes peer-to-peer transactions safe and quick, like sending money back home from overseas.
On the other hand, you can download the new Easy Crypto Wallet straight from the Google Play or Apple App Store.
The CBDC solution that Ripple is offering
New Zealand made headlines last summer about the Central Bank Digital Currency (also known as CBDC).
Indeed, it appears that the Bank of New Zealand was in discussions with Ripple regarding the latter’s cryptocurrency solution for creating a CBDC based on the XRP Ledger (or XRPL).
It became clear that the Central Bank of New Zealand was eager to incorporate digital innovation into its financial institutions and take advantage of the revolutionary potential of digital currencies.
However, it looks that the blockchain-based XRPL solution can satisfy a CBDC’s strict requirements.
