Novatti's vision for a new Australian bank*
Novatti has recognised the importance and growth in Australia’s new resident market. In mid 2017, it began incubating a new Australian bank*, informally referred to as Novatti IBA. Novatti’s vision is to deliver confidence and peace of mind for new residents undertaking the journey to Australia and to assist new residents take charge of their financial future through innovative, cost effective and personalised financial services.
* IBA is being developed by Novatti. Neither Novatti or any related body corporate of Novatti is a "bank" or conducts a banking business. Novatti IBA is not a bank and cannot conduct any "banking business". This entity has applied for a Restricted ADI licence which would enable it to become a bank and to conduct a banking business. This application is pending.
Novatti investing in Distributed Ledger Networks and Stable Tokens
Novatti has been a pioneer of the Stellar Distributed Ledger Network and a Stellar Anchor since 2017. Novatti is also a founding member of the IBM World Wire Network.
Novatti has developed remittance applications and more recently, a stable token tied to the Australian dollar.
Novatti's vision is to use the speed of the distributed ledger network to undertake global remittance payments in just a few seconds. "We also see great value in offering secure ways of trading using stable tokens where the value of the token always remains the same."