Labrys partners with Easy Crypto to launch NZDD stablecoin

Labrys partners with Easy Crypto to launch NZDD stablecoin

Labrys, Australia’s largest on-shore blockchain development agency, has announced a partnership with Easy Crypto, New Zealand’s largest crypto retailer, alongside which it today launches its New Zealand Dollar Stablecoin (NZDD).

Easy Crypto is New Zealand’s largest non-custodial cryptocurrency exchange. The launch of the NZ Dollar backed stablecoin expands the company’s product offering to support its mission of making crypto assets accessible and understandable for all. The NZDD will offer seamless access for New Zealanders to the world of on-chain digital finance with all the comfort and trustworthiness of the backing of the New Zealand Dollar.

Stablecoins are a unique category of digital currencies designed to provide a stable and reliable value, addressing the price volatility commonly associated with other cryptocurrencies like Bitcoin. Unlike traditional cryptocurrencies, stablecoins are often pegged to real-world assets such as fiat currencies – in this case the NZ Dollar – ensuring a steady value that mirrors that of the underlying asset. This stability makes stablecoins attractive for various financial transactions and investments, combining the benefits of blockchain technology with a dependable value foundation.

“The launch of the NZDD is a major milestone for decentralised finance in the APAC region which is likely to spark a new wave of accelerated adoption” commented Lachlan Feeney, Founder and CEO of Labrys. “Whilst Australian banks drag their feet with further testing on their own respective AUD stablecoins, Easy Crypto has blazed ahead beating everyone to market and leaving us Aussies in the dust. We are proud at Labrys to have been involved in the development of such a pivotal product for the industry.”

In a practical sense, NZDD will provide an easy pathway for newcomers into digital finance without price volatility risks. Seasoned investors and traders, in turn, will appreciate NZDD for its reliability as a store of value and liquidity. The stablecoin seamlessly facilitates users with swift, resilient, and economical transactions, ensuring continuous access to the NZ Dollar without the cumbersome administrative processes, exorbitant charges, or prolonged delays inherent in conventional banking. It empowers secure and prompt peer-to-peer transactions, simplifying cross-border money transfers and reinforcing the ease of sending funds home from overseas.

“NZDD bridges the gap between traditional finance and the digital age. NZDD brings the benefits of digitisation to the New Zealand Dollar; backed 1:1 with Kiwi dollars held in a bare trust; meaning your NZDD is safe and flexible. The stablecoin has also been structured to fit in with New Zealand regulations” explains Janine Grainger, Co-Founder and CEO of Easy Crypto.