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Hot Topic Hawke’s Bay
Hot Topic Hawke’s Bay
General Business
5 mins to read

PowerFinance’s ‘sovereign-backed’ currency claim questioned

The company wants to reshape finance with its ‘smart money’ technology.

A financial services company which has raised millions in investment is insisting it has launched the world’s first sovereign-backed digital currency even as the Reserve Bank and Inland Revenue distance themselves from the description.

And it has declined to release a letter from the IRD which

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Hamish McNicol Tue, 06 Oct 2020
Contact the Writer: Hmcnicol@nbr.co.nz
News tip? Question? Typo? Let us know: editor@nbr.co.nz
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PowerFinance’s ‘sovereign-backed’ currency claim questioned
General Business,
85159
true