Fun

News Feed - 2023-11-22 11:11:01

Derek Andersen6 hours agoNew Zealand dollar stablecoin goes live through local crypto exchangeEasy Crypto launched the aptly named New Zealand Dollar Stablecoin (NZDD) in partnership with an Australian blockchain development firm.4329 Total views23 Total sharesListen to article 0:00NewsJoin us on social networksA New Zealand dollar-pegged stablecoin has gone live through a partnership with New Zealand crypto exchange Easy Crypto and Australian blockchain development firm Labrys.


In a Nov. 22 announcement, Labrys and Easy Crypto said the NZDD will be backed 1:1 with cash in trust and regulated by the New Zealand Financial Markets Authority.


It’s initially live on Ethereum but has plans to expand to Polygon, the BNB Smart Chain, Arbitrum, Optimism and Coinbase’s Base.


Easy Crypto was motivated to launch the stablecoin as it claimed it was harder for New Zealanders to maximize their profits when using U.S. dollar-pegged tokens.


Easy Crypto co-founder and CEO Janine Grainger said the NZDD bridges the gap with traditional finance and claimed it would “move NZ forward as a nation, giving us a digital, programmable currency that can do everything the NZD can do.”


Related: Binance launches New Zealand-based offices following regulatory approval


Alongside the stablecoin, Easy Crypto introduced a multicurrency self-custody wallet protected by multiparty computation cryptography by enlisting the user’s “trusted social circle” with parts of the key instead of a seed phrase.Keep an eye out for an upcoming episode with Easy Crypto talking about the new wallet and new #stablecoin!

#NZDD #investing #alternative #assets #realdiversification pic.twitter.com/Wt9EPq1Gri— Darcy Ungaro (@UngaroDarcy) November 21, 2023


An August report commissioned by the New Zealand’s parliament said the country has taken an “agile” approach to crypto regulation. It recommend that problems are "addressed as they arise and that the government creates "coherent and consistent guidance on the treatment of digital assets under current law.”


Earlier attempts to launch a NZ dollar-pegged stablecoin include the 2021 launch of $NZDs by Australian financial services provider Techemyny.


However, in 2022, the bridge used by the stablecoin was blacklisted after the hack of the DFX Finance protocol in November 2022 leaving a large portion of funds stranded on the Polygon blockchain.


Magazine: Unstablecoins: Depegging, bank runs and other risks loom# Cryptocurrencies# Business# Wallet# New Zealand# Cryptocurrency Exchange# Stablecoin# Self CustodyAdd reactionAdd reactionRead moreExpect some crypto companies to fail in the wake of Bitcoin"s halvingSpot Bitcoin ETF: Why this time is differentWallet crypto bot rolls out on Telegram in Colombia, SA and Kenya

News Feed

India’s Defense Minister Touts Blockchain, AI Role in Warfare
India’s defense minister believes blockchain technology is the next step in contemporary warfare. Speaking at an 80-nation plus envoy roundtable Monday before the country’s
Bill Gates: Crypto Has No Valuable Output — It’s Not Adding to Society Like Other Investments
Bill Gates: Crypto Has No Valuable Output — It"s Not Adding to Society Like Other Investments Microsoft co-founder Bill Gates has explained why he does not own any bitcoin or oth
Ethereum’s Crypto Economy Dominance Nears 20% as Ether Prices Rocket to Fresh Highs
Ethereum"s Crypto Economy Dominance Nears 20% as Ether Prices Rocket to Fresh Highs The world’s second-leading crypto asset in terms of market valuation, ethereum, has seen
Have altcoins hit the bottom? Bitcoin price bounces 5% from $59.7K low
William Suberg11 hours agoHave altcoins hit the bottom? Bitcoin price bounces 5% from $59.7K lowBitcoin is attempting to reclaim support after dipping below $60,000, while traders dare to dream of an altcoin rebound.3370
William Suberg9 hours agoBitcoin fails to recoup post-Fed losses as $20K BTC price returns to radarBitcoin is a bargain for some at current levels, but downside BTC price predictions remain firmly on the agenda.3680 Tota
Marcel Pechman9 hours agoEthereum price sees new low vs Bitcoin since switching to proof-of-stakeSpot Ether ETF requests, Ripple’s potential win against the SEC, and growing decentralized app dominance retain hope for
Brayden Lindrea4 hours agoShibarium wallets surpass 100K after SHIB devs relaunch bridgeShytoshi Kusama, the co-founder of the SHIB token, said the bridge was fixed with the help of Polygon Labs co-founder Sandeep Nailwa
Arijit Sarkar43 minutes agoCZ appoints Binance security team to track Huobi HTX stolen fundsTo minimize the damage, HTX proactively offered 5% of the drained funds as a “white-hat bonus,” which would amount to nearly
BNB Chain activates hard fork, reduces fees
Ezra Reguerra2 hours agoBNB Chain activates hard fork, reduces feesBNB Chain activates the Haber hard fork with BEP-336, introducing blob-carrying transactions to optimize data storage and processing.872 Total views1 Tot
Prashant Jha41 minutes agoUS government among largest Bitcoin hodlers with over $5B in BTC: ReportThe $5-billion estimation is based on three major seizures linked to the Bitfinex hack and Silk Road, meaning the actual h
Goldman Sachs Urges Investors to Buy Commodities Now — Expects Equities to Suffer as Inflation Stays Elevated
Goldman Sachs Urges Investors to Buy Commodities Now — Expects Equities to Suffer as Inflation Stays Elevated Global investment bank Goldman Sachs has urged investors to buy comm
Swiss Bank Sygnum Begins Storing Crypto With Taurus Group, Launches Staking Service
Swiss Bank Sygnum Begins Storing Crypto With Taurus Group, Launches Staking Service The Switzerland-based bank Sygnum has announced this week that the fintech fi