In the recent blockchain news, we have Stellar and its blockchain which recently got a new stablecoin that is designed to hold its value with the Australian dollar (AUD) and is right now being pitched for consumer and business uses.
Originally announced at the Money 20/20 conference in Las Vegas, the new stablecoin will be issued by Novatti Group, an Australian online payments processor. The Novatti AUD Utility Token will begin its sale on November 19th and will be backed 1-for-1 with the AUD held in a trust.
Traditionally, stablecoins have been a cryptocurrency that is pegged to the value of a dollar – but in this case – the Novatti AUD token will be pegged to the Australian dollar. With this, Novatti envisions it being used for more common use cases such as remittances or purchases.
The managing director of the company, Peter Cook, recently stated:
“We think that people will use them [stablecoins] to help purchase goods from Australian enterprises. And we think that will also use them for the payment of bills or for services inside of Australia.”
Currently, Novati is a licensed payments distributor that processes payments for clients such as Vox Telecom (Europe) and MoniSend (a remittance provider in South Africa). As Cook announced, Novatti’s clientele will expand and will be mostly comprised of “licensed money service businesses, banks, and enterprises, who want access to digital assets,” which will give the company’s users a great deal of trust.
Russia Is Not Planning To Buy $10 Billion In Bitcoin
“This statement has no common sense. The Russian Federation — like any other country in the world — is simply not ready to combine its traditional financial system with cryptocurrencies.”Sidorenko reacted to the fake news reports from Telegraph where it was noted that Russia wants to invest $10 billion in bitcoin in order to mitigate the economic impact that is brought up from the US sanctions. The rumors emerged on Twitter where a particular user wrote that Kremlin has no choice but to invest in bitcoin and that it is the only way to avoid the harsh sanctions by President Trump. Ginko posted on Twitter and his post went viral after Telegraph wrote a story about it and lots of other websites just added their own touch to it. Ginko is known to the public for making such shocking tweets and comments after once saying that sham investment adviser Bernie Madoff is the real Satoshi Nakamoto. However, Sidorenko said that Ginko’s comments are absurd:
“Even if Russia wants to place its cryptocurrency assets now, it simply cannot do this. We do not have any mechanisms that would allow us to introduce a system: where these assets would be stored, which authorities would be responsible for it, which would be responsible for abuses and stuff.”However, according to Tota Kaliaskarova, the director of macroeconomic policy with the Eurasian Economic Union says that crypto could have a huge impact on the Eurasian economy.
Huobi Re-Launched As Fully Licensed Platform In Japan
$1 Billion In Transactions Reported For 2018 By BitPay
WordPress Is Launching A Publishing Platform With Blockchain Features
Join us on Facebook
- Russia Is Not Planning To Buy $10 Billion In Bitcoin
- Huobi Re-Launched As Fully Licensed Platform In Japan
- $1 Billion In Transactions Reported For 2018 By BitPay
- Third Audit Attestation Of USDC Stablecoin Reserves Released By Circle
- 21-Year Old Accused Of Stealing More Than $24 Million Worth Of Crypto
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Altcoin News5 days ago
Bitcoin Hovers Near $3,700 As Top Altcoins Record A Mix Of Reds And Greens
Ethereum News3 days ago
Coinbase And Kraken Officially Supporting ETH’s Constantinople Hard Fork
Ethereum News5 days ago
$100,000 Reportedly Returned From Ethereum Classic 51% Attacker
Altcoin News4 days ago
Bitcoin Drops Below $3,600 As $5 Billion Get Wiped Out Of The Crypto Market
Altcoin News4 days ago
Major Swiss Bank Launches A Crypto Custody Solution Targeting Banks & Asset Managers
Bitcoin Scams3 days ago
New Torrent Malware Posing As Movie File Can Replace BTC & ETH Addresses: Researcher
Blockchain News5 days ago
Washington’s Douglas County Wants To Build A Blockchain Innovation Campus
Bitcoin News4 days ago
American Businessman Still Missing After $950,000 In BTC Ransom Paid