With some businesses are already accepting Bitcoin as payment in New Zealand it is fair to say that this adoption is coming early to the country. However, cryptocurrencies can be volatile and currently, these are continually being adjusted in Bitcoin rather than being based on the NZ Dollar.
Cryptopia, the New Zealand cryptocurrency exchange has now introduced the 'NZed’ (NZDT), the first cryptocurrency token tethered to the NZD. This need was raised at the Blockchain NZ conference. Shortly thereafter the Cryptopia team created the new currency and within a few hours had orders for more than $40 000 NZDT.
Total tokens available in the current market, are limited to $100 000 NZDT. Cryptopia is currently only able to accept deposits in cash from clients overseas, but with regularity confirmation pending, it is expected that they will be able to offer a full service to NZ businesses imminently.