What is Novatti (AUDD)?
Novatti is a fintech company offering a comprehensive suite of financial and payment solutions to businesses worldwide. One of its notable projects is AUDD, the Australian Digital Dollar stablecoin. AUDD is a stable digital currency backed 1:1 by real Australian Dollars held in custody by Novatti's subsidiary, AUDC PTY LTD. It provides stability, transparency, and versatility, as it is available on various blockchain platforms, including Stellar, XRP Ledger, and Ethereum. AUDD serves as a secure and efficient means for online and offline payments, transacting between digital and fiat currencies, and reducing transaction fees. Novatti is committed to regulatory compliance and actively engages in the fintech regulatory landscape in Australia, offering trusted financial services to businesses of all sizes.
Who Are the Founders of Novatti?
Peter Cook is the co-founder of Novatti, which he established in 2015. He has pioneered many telecommunications and payments services in Australia, and Novatti has evolved from a remittance services business into a digital payments ecosystem that helps businesses pay and be paid quickly and safely.
Mark Healy is the new CEO of Novatti, taking over the role from Peter Cook in 2023. He has extensive experience within the business and broader payments industry, and is leading Novatti into a new era of global payments growth.
Novatti is a leading Australian fintech company that provides digital payment solutions to businesses of all sizes. It is listed on the Australian Securities Exchange (ASX) under the code NOV.
What Makes Novatti AUDD Unique?
Novatti's AUDD (Australian Digital Dollar) stands out for several unique features and attributes:
1:1 Backing: AUDD is backed 1:1 by actual Australian Dollars held in custody by Novatti's subsidiary, AUDC PTY LTD. This ensures that each AUDD in circulation has an equivalent value in Australian Dollars, providing a high level of stability and trust.
Multi-Blockchain Support: AUDD is designed to operate on multiple blockchain platforms, including Stellar, XRP Ledger, and Ethereum (with support expected in August 2023). This multi-chain approach increases accessibility and usability.
Transparency: Novatti provides regular audits of AUDD's circulation data, which are publicly available. This transparency ensures that the stablecoin is indeed fully backed by Australian Dollars.
Stability: AUDD's value is pegged to the Australian Dollar (A$), reducing the price volatility often associated with cryptocurrencies. This stability makes it a reliable option for both businesses and individuals.
Versatility: AUDD can be used for a wide range of financial transactions, including online and offline payments, remittances, and trading pairs. It allows for easy transitions between digital and fiat currencies.
Regulatory Engagement**: Novatti is actively engaged in regulatory efforts within the fintech sector in Australia. This commitment to compliance and transparent participation in regulatory initiatives adds credibility to AUDD.
Blockchain Agnosticism**: AUDD's approach to being blockchain-agnostic means it can be used across different blockchain technologies. This flexibility expands its potential use cases and market reach.
Real-World Backing: Unlike some stablecoins that are collateralized with cryptocurrencies or smart contracts, AUDD is backed by the sovereign currency of Australia, reducing the risk of depreciation.
Use in Business: AUDD can be used by businesses for various purposes, including payments, remittances, and trading pairs. Its stable value and low transaction fees make it a practical choice for business transactions.
Trusted Fintech Provider: Novatti is an established fintech company with a history of providing financial and payment solutions. Its reputation and experience contribute to the trustworthiness of AUDD.
These unique features collectively position AUDD as a stable and versatile digital currency that bridges the gap between traditional financial systems and the world of cryptocurrencies, making it suitable for various financial applications and transactions.
What purpose does Novatti (AUDD) serve?
Novatti's AUDD, the Australian Digital Dollar, serves as a stable and versatile digital currency, offering practical solutions in the realm of finance and payments. With its 1:1 peg to the Australian Dollar (A$), AUDD provides stability, making it a reliable store of value and means of exchange. It facilitates transactions, including cross-border remittances, and reduces transaction fees, appealing to individuals and businesses alike. AUDD's blockchain agnosticism allows it to operate on multiple blockchain platforms, enhancing its accessibility and usability. Moreover, Novatti's commitment to compliance and transparency ensures that AUDD is a trustworthy digital currency. Overall, AUDD bridges the gap between traditional fiat currencies and cryptocurrencies, offering a practical and reliable financial tool for various financial applications and transactions.
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Where Can You Buy AUDD?
AUDD is a token trading on the XRP ledger DEX, the most straight forward way to acquire AUDD tokens would be to purchase them through XRPL DEX.
If you are looking for alternative exchanges where you can purchase AUDD, Bitrue is a good choice. Keep in mind that investing in cryptocurrency can be risky, just like investing in any other type of asset.
How to stay tuned for further updates?
If you wish to receive more updates about the Novatti AUDD ecosystem and the upcoming events, we suggest you follow @AUDD_digital on Twitter.