Melissa Dharmawan: Thank you for visiting Finance News. This is Melissa Dharmawan. Novatti Group CEO will join again (ASX: November), Peter Cook. Peter, I’m glad to meet you.
Peter Cook: Hello Mel. I’m glad I came back. Thank you very much.
Melissa Dharmawan: It’s always nice to be here. Now, Novatti recently announced two deals on your Stablecoin service. Talk to us through it.
Peter Cook: We were able to announce partnerships with both Silicon Valley-based and two major cross-border blockchain networks with relatively high market capitalization, Stellar and Ripple. Ripple, we’ve done a lot of work for cross-border payments in the past, and Stella, we started a blockchain program with them a few years ago, but now we really do it Bringing it back to life. Therefore, we are initially building a multi-chain stablecoin service on both the Ripple and Stellar chains. And in fact, the great thing is that both Ripple and Stellar fund most of the development work and even part of the marketing work they do to provide the Stablecoin service. Therefore, Stablecoin is a dollar-denominated Australian dollar stablecoin. So we are a licensed company. Manage funds in a trust account. And then there is the Australian dollar stablecoin named AUDC. This is to some extent consistent with the nomenclature of USDC, the US stablecoin.
Melissa Dharmawan: Just a few weeks ago, we were talking to Novatti about the role of digital assets. With regards to the current strategy, can you loop it?
Peter Cook: Therefore, for us, Stablecoin is essentially a major advance into digital assets. We are still a payment company and a traditional payment company, but this now gives us a big entrance … let’s call it cryptocurrency. This goes up and down and is influenced by the power of other markets. And it’s a real, practical crypto-based asset. So, build stablecoin. It will be part of our ecosystem or infrastructure, which is a license, technology and commercial partnership. From there, we leverage and monetize for either financial services customers or end-business type customers. We serve as Stablecoin as a service and also for holding and trading funds such as cross-border payments, cryptocurrency on-ramp-off-ramp, and other unseen services. Provide. In terms of partnerships between Ripple and Stellar, these are two major networks. We were able to work with them and become their primary partner in Australia. And I think it will lead to many of Novatti’s successes. It means that we can work with these global companies to engage in important commerce.
Melissa Dharmawan: So how do you think this impact will affect your bottom line?
Peter Cook: Melissa, at least next year, will be profitable from the number of payments from Ripple and Stella for grant programs that will improve some of the technology building costs and marketing costs. If you start monetizing later this year, you will also receive transaction fees from the stablecoin service.
Melissa Dharmawan: Let’s talk about the results. So you know that you recently announced quarterly results. Talk to us through the highlights.
Peter Cook: In March’s quarterly earnings, revenue was approximately 10.4 million. Similarly, the increase from 6.3 million to 6.8 and then from 6.8 to 10.4, similar to the December result, is due to the start of the Malaysian company ATX joining the account. Compared to the previous calendar period of Novatti itself, it increased by about 60% from the quarter of the previous calendar period. And with the advent of ATX, it’s now over $ 10 million a quarter. So it’s a really great result of growth. Therefore, we have introduced the stablecoin service. It will be added to the other services we offer. We have grown the company at an annual rate of about 50%. If we continue to do this for the next 12 months, our goal is to show the market that cash flow will be positive in the first quarter of fiscal year 23 and that we will become a leading global clearing company with high profitability.
Melissa Dharmawan: An exciting era in the future. It’s an honor to meet Peter Cook again in Sydney.
Peter Cook: Thank you, Melissa.