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26 October 2020

Former PwC partner to launch New Zealand ‘Power Dollar’ stablecoin

Former PwC partner to launch New Zealand ‘Power Dollar’ stablecoin


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Corbett said that the new currency has been developed to function within current regulations, and added:.

After launching the currency, the company will work to secure a banking license from the RBNZ, and if successful, start signing up “partners” to launch banking-style services that function outside of the traditional banking system, Corbett said.

“Our plan is to attach that [banking] license to the platform, which means that our partners will technically be able to operate as banks,” he said, adding the currency could be an important precedent for the RBNZ:

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