Ann: June Quarter Results Presentation, page-72

Everything to know about Australia’s first-ever Bitcoin ETF – Cryptopolitan
read this click link above ....vasco pay is novatti...................
our new director said in podcast he doesn't quite get this area in blockchain ...yet peter cook does !!
has peter cook moved into new position to focus on this area only .will we transfer this into the international bank of Australia and make it Australia's first
e-aud money transfer bank ......

Novatti Group (ASX:NOV) is pleased to announce that it has executed Australia’s first ever charitable donation using a stablecoin backed 1:1 by Australia’s CBDC (eAUD).

The transaction took place as part of a pilot program led by the Digital Finance Cooperative Research Centre (DFCRC) in conjunction with the Reserve Bank of Australia (RBA) to explore the use cases for a CBDC.

Novatti’s test explored whether CBDC was a credible and risk-free method to back private stablecoins, such as its own AUDD. A CBDC backed stablecoin would allow customers to independently verify the reserve, giving them more confidence in the stability and validity of private stablecoins.

How the transaction works

Novatti purchased 5000 eAUD (the CBDC issued by the RBA) and minted an equivalent amount of its stablecoin eAUDD – a variant of their stablecoin, AUDD, on the public Stellar Blockchain.

The 1:1 backing between eAUD and eAUDD was guaranteed by keeping eAUD in a Hashed Time Lock Contract (HTLC), which effectively simulated a ‘bridge’ between the CBDC ledger and the Stellar blockchain.

Customers, which in this case was restricted to the trial participants, could independently check with the HTLC to make sure this privately-issued stablecoin has sufficient backing. To obtain eAUDD, participants would then purchase it using fiat AUD through an authorised Digital Currency Exchange.

In the lead up to the DFCRC conference on Friday 25 May, eAUDD was used to buy non-fungible tokens (NFTs) issued by Zerocap, on behalf of their client and Novatti’s beneficiary, FSHD Global Research Foundation in order to make a live charitable donation.

Benefits and outcomes

The pilot demonstrated the case for a CBDC-backed stablecoin with the ability to offer decentalised attestation and independent verification from the customer. As the world becomes increasingly digital, the demand for digital currency solutions that offer real-time settlement, reduced costs, and heightened safety will continue to grow.