New Zealand’s crypto exchange, Easy Crypto, has partnered with Australian blockchain firm Labrys to introduce a new stablecoin pegged to the New Zealand Dollar (NZD). Named NZDD, the stablecoin is set to operate under the regulatory oversight of the New Zealand Financial Markets Authority. Initially available on the Ethereum blockchain, NZDD has plans for expansion to other chains, including Polygon and Arbitrum.
Janine Grainger, CEO, and co-founder of Easy Crypto, highlighted that NZDD offers a stable and trustworthy entry point into the digital marketplace, combining the reliability of the New Zealand Dollar with the advantages of blockchain technology. Grainger emphasized that only 10% of New Zealand’s population owns cryptocurrency assets, attributing the low adoption rate to volatility and complexity barriers. She stated, “We’re focused on solving these challenges as digitization grows; Kiwis need a seamless onramp to crypto.”
— Easy Crypto (@easycrypto) November 21, 2023
The announcement also introduced a new multicurrency self-custody wallet designed as a “one wallet for all your crypto.” The wallet boasts features like unlimited sub-wallets, compatibility with multiple blockchains, and support for a wide range of coins, all secured with state-of-the-art security measures. Grainger noted that managing crypto should not be intimidating, and users should not need multiple wallets for different assets.
The self-custody wallet enables users to import and manage multiple accounts within the same wallet. It also facilitates buying and selling assets from over 50 of the most popular cryptocurrencies. The wallet incorporates advanced security and recovery features, including multi-party computation (MPC), which aids in the recovery of wallet keys in case of loss.