Local exchange Easy Crypto introduces New Zealand dollar stablecoin

November 22, 2023 04:38 PM AEDT | By Invezz

Local exchange Easy Crypto introduces New Zealand dollar stablecoin — Image source: Invezz

Easy Crypto’s self-custody wallet

Furthermore, Easy Crypto launched a self-custody wallet that uses multiparty computation cryptography for safety. Meanwhile, the innovative wallet replaces the seed phrase approach as it involves the user’s social circle in managing keys, improving security.

Meanwhile, the NZDD launch matches August’s parliamentary report, highlighting the country’s active approach to regulating the digital assets market. It urged the authority to ensure detailed and coherent guidance on crypto stance under current laws.

While the New Zealand dollar stablecoin represents a significant move, there were previous trials. Techemynt introduced $NZDs in 2021 but failed due to various challenges.

Also, user funds remained stuck on Polygon after the DFX Finance hack saw stablecoin’s bridge blacklisted in 2022. Such events emphasize the need for massive security protocols in the crypto industry.

Meanwhile, NZDD represents a pivotal step for the digital assets sector in New Zealand. Moreover, prioritizing regulatory compliance, user-friendliness, and tech innovation marks new standards for stablecoins within the Kiwi marketplace.

The post Local exchange Easy Crypto introduces New Zealand dollar stablecoin appeared first on Invezz

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