Techemynt Unveils New $NZD Stablecoin Backed by New Zealand Dollar

Groundbreaking Launch by Techemynt

Auckland-based financial service provider Techemynt has rolled out a new stablecoin that is backed 1:1 by the New Zealand dollar. Yes, you heard that right! Your bucks now have a digital sibling and it has taken residence on the Ethereum blockchain with the help of Blockchain Labs. Talk about a tech-savvy family!

Stablecoin Available for Purchase

If you’re feeling a little impulsive and can cough up a minimum of $100,000 NZD (about $70,000 USD for our fellow Americans), Techemynt is ready to happily hand over the reins of this shiny new token to you. And if that isn’t enough, you’ll also be able to find the $NZD stablecoin on New Zealand’s very own Dassetx crypto exchange.

Future Integrations and Plans

Techemynt isn’t stopping here! The company has grand plans to expand the $NZD stablecoin visibility across even more crypto exchanges in the future. Sharing is caring, right?

Fran Strajnar Speaks Out

Fran Strajnar, the executive director of Techemynt, expressed the motivation behind this initiative, stating,

“Between the popularity of the New Zealand Dollar and the proliferation of cryptocurrency, Techemynt felt it was an ideal time to fill the gap in the market.”

After nearly a year of development, the $NZDs stablecoin is the first to fully bring the promise of a New Zealand Dollar-backed token into reality. Is there a better birthday present than that?

Compliance and Oversight

With all this excitement, one might wonder about the stability. Rest assured that the stablecoin adheres to New Zealand’s legal requirements, and to further solidify your peace of mind, Techemynt has confirmed that a leading accounting firm will verify the NZD backing of the stablecoin on a quarterly basis. Numbers don’t lie; the auditors are their best friends!

Looking Back at History

Techemynt isn’t the first player on this field. It seems New Zealand has a history of attempts to launch stablecoins. Back in 2017, Cryptopia unveiled its NZDT token, which they claimed was the first tethered to NZD. More recently, in 2021, Power Finance took a swing at issuing a non-government-backed digital version of New Zealand’s dollar. Looks like everyone wants a piece of that Kiwi pie!