New Zealand’s Financial Markets Authority has determined that the NZDD stablecoin does not qualify as a financial product under current regulations. The decision follows testing through a fintech sandbox and clarifies that the token functions mainly as a payment tool rather than an investment instrument.New Zealand’s Financial Markets Authority has determined that the NZDD stablecoin does not qualify as a financial product under current regulations. The decision follows testing through a fintech sandbox and clarifies that the token functions mainly as a payment tool rather than an investment instrument.