Stellar to support AUD-backed stablecoin

Stellar to support AUD-backed stablecoin

A new stablecoin backed by Australian dollar (AUD) is to be unveiled on the Stellar blockchain as announced by the Novatti Group. The company would be issuing Novatti AUD Utility Token from 19th November which is to be backed 1-for-1 with AUD held in a trust. The managing director believes that it would be used to purchase goods from Australian enterprises.

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