New Zealand financial firm Techemynt launches NZD-backed stablecoin

Editor's Note: This article comes fromCointelegraph Chinese (ID: CointelegraphChina), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Cointelegraph Chinese (ID: CointelegraphChina)Auckland-based financial services provider Techemynt has announced the launch of a stablecoin backed by the New Zealand dollar (NZD, often shortened to NZD).In a statement issued by Techemynt, the companyhttp://www.globenewswire.com/news-release/2021/03/10/2190628/0/en/Techemynt-Launches-First-New-Zealand-announcementIt has launched a New Zealand dollar-backed cryptocurrency, pegged one-to-one by the New Zealand dollar, and deployed on the Ethereum blockchain by Blockchain Labs. Techemynt is a

registered

financial service provider, whose

New Zealand's main regulator

Financial Markets Authority (FMA) registered.The company said it would offer the New Zealand dollar-pegged stablecoin directly to anyone who wanted to buy more than NZ$100,000 (about US$70,000) worth. Cryptocurrency users can also acquire the token on New Zealand-based cryptocurrency exchange Dassetx, and Techemynt said it aims to integrate the stablecoin with more exchanges in the future."Between the popularity of the NZD and the rapid growth of cryptocurrencies, Techemynt sees this as an ideal time to fill a void in the market and lead the creation of a NZD-based stablecoin," said Techemynt CEO Fran Strajnar. "After nearly a year in development, NZD is now the first to execute and deliver on the promise of bringing the NZD stablecoin to users around the world."Strajnar said the stablecoin was developed "in compliance with New Zealand's legal requirements." According to Techemynt’s website, NZD backing for the stablecoin will be confirmed by a “leading accounting firm” on a quarterly basis.。