What is NZDD?
Developed by the team who built Easy Crypto, and who've now joined forces with Swyftx. NZDD is an NZD-backed stablecoin for use right here in New Zealand and beyond.
Introduction to NZDD stablecoin
What is NZDD exactly, and why is it secure? Check out this intro video for a quick overview.
How does NZDD work?
Each NZDD token is backed 1-to-1 with New Zealand dollars. That means for every NZDD in circulation, dollar cash is stored securely in a local bank.
The process below gives an overview of the intricate accounting system that balances NZDD with NZ dollars, ensuring the token's stability.
An accredited wholesale party requests ECDD Ltd for large-scale minting of NZDD. Once the invoices have been paid, NZDD minting begins immediately, while NZ dollars are locked in a bare trust.
A smart contract is a program on the blockchain. The NZDD smart contract is the only program that can mint NZDD and add them to circulation.
Once the minting process is complete, the new NZDD tokens are sent back to the requesting party.
Locked NZ dollars can be redeemed following the terms and agreements of the legal contract between ECDD, Ltd. and the requesting party.
When NZDD is received, the tokens become permanently destroyed (via a process called "burning"). The locked NZ dollars gets liquidated and sent to the requesting party.
Who should use NZDD?
Individuals and businesses can enjoy a seamless digital payment experience using NZDD. Payments are settled without relying on traditional banking.
Crypto investors and financial institutions can swiftly convert between digital assets and a truly stable local currency. Invest in peace without needing to hold foreign currency-backed stablecoins.
Buying & Selling NZDD
Learn how to buy or sell NZDD through Easy Crypto or Swyftx, and how to send and receive right from your wallet!
First, you'll need a wallet that supports NZDD. The easiest way is to use the Swyftx app which supports NZDD as well as many other crypto assets.
You can buy, sell and swap NZDD from Easy Crypto and Swyftx the same way you buy any other cryptocurrency.
Creating a sell order is super simple. For most NZ banks you'll have the money in your account the same business day.
NZDD is on the Ethereum and Polygon Mainnet. We currently are not distributing tokens on any other platforms, however we do have plans to launch on
- Binance Smart Chain (BSC)
- Base
- Arbitrum
- Optimism
The easiest way is to the Swyftx app or the PIN app, both of which natively support NZDD:
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Swyftx app - best wallet if you're looking to buy/trade/hold other cryptocurrencies
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PIN - best wallet if you're wanting to spend your NZDD at merchants around NZ
If you want to use another wallet, we recommend either Rabby wallet or MetaMask wallet. This is because they allow you to manually add and show ERC-20 tokens. Here are links to those two wallets:
The smart contracts that power NZDD are open source and available for anyone to see on the blockchain. Both contracts on Ethereum and Polygon use the same address:
0x2dd087589ce9c5b2d1b42e20d2519b3c8cf022b7.
NZDD and You
NZDD is a versatile and practical stablecoin whether you are in Aotearoa or anywhere else in the world. Here are some ways you can use it:
Pay for everyday items through partners that offer crypto-backed credit cards in New Zealand.
Trade crypto with DeFi services easily and instantly.
Earn passive income by staking NZDD into liquidity pools.
Why NZDD?
NZDD is a great way to start getting involved in New Zealand's blockchain-based financial world.
Want to send money abroad, purchase everyday items or invest in crypto? NZDD can help you as it is a safe and stable cryptocurrency. It's always 100% backed by NZD held in a New Zealand bank.
Transparent & secure
NZDD maintains transparency by utilising blockchain technology on one of the most secure and decentralised networks to date.
Stability you can trust
Every unit of NZDD token is backed by real NZ dollar held in a New Zealand bank account.
Pay bills and invoices
You can use NZDD in your daily life, such as for paying utility bills and invoices via Billpay thanks to PayitNow.
Fast, safe and instant
Transact and use NZDD fast, safely and seamlessly 365 days a year, 24/7. Send money back home or anywhere in the world easily.
Earn passive Income
You can earn trading fees on Uniswap by adding NZDD to a liquidity pool, while keeping it safe under your custody.
Future scalability
NZDD is designed with scalability and the future in mind to meet the evolving needs of the industry.