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However, they shifted to the creation of an AUD-backed stablecoin roughly 12 months ago:
“It became apparent that [LHT] was too hard for people to understand, so we thought a stablecoin based on AUD would be more appropriate, since we are based in Australia.”
Sergienko noted that Chrono Tech encountered few regulatory challenges in issuing the stablecoin, stating that it “definitely was not difficult” to get the licensing required to convert between cryptocurrencies and fiat currency.
AUDT was launched at the start of March and is integrated into the Chrono Tech ecosystem. Chrono Tech’s platform also includes PaymentX — an automated cryptocurrency payroll solution for individuals and businesses, TimeX — a Plasma-based hybrid exchange, and LaborX — a cryptocurrency-powered freelance marketplace.
