🇦🇺 First stablecoin to be launched in Australia next year
Cryptoasset exchange BitTrade and blockchain employment platform Emparta have teamed up to launch a new stablecoin backed by the Australian dollar. According to the two firms expect to have a prototype working within a little over a month and expect a wider release next year. Like other stablecoins the digital tokens will be fully redeemable for fiat currency, in this case, AUD. While it is still unclear exactly where the funds will be held the team plans to use a local Australian based firm to house its treasury.
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