ℹ️ About AUDD
AUDD is a digital version of the Australian Dollar, designed to make payments faster, simpler, and more reliable in today’s global economy.
The Australian Digital Dollar (AUDD) is a stable digital currency designed to represent the Australian Dollar on the blockchain. For every Australian dollar held in reserve, one AUDD is issued. This means AUDD always maintains a 1:1 value with the Australian Dollar, giving you the assurance that your digital holdings carry the same value as traditional cash.
AUDD is built on blockchain technology, which is essentially a secure, digital ledger shared across many computers. This ensures that every AUDD transaction is transparent, tamper-proof, and permanently recorded. Unlike cryptocurrencies such as Bitcoin, AUDD does not fluctuate in value - it is designed for stability and everyday use.
💡 Why AUDD Matters
Traditional payment systems are slow, costly, and often inconvenient:
- International payments can take several days to clear.
- Transaction fees and foreign exchange margins make cross-border payments expensive.
- Payments are restricted by banking hours and intermediaries.
AUDD solves these challenges by offering a faster, more reliable way to move money. Businesses can send and receive payments instantly, at any time of day, without being tied to banking cut-off times. For international transactions, AUDD bypasses the need for multiple intermediaries, reducing costs and delays.
This makes AUDD especially valuable for:
- Companies trading with overseas partners.
- Platforms needing fast settlement for customer transactions.
- Businesses looking for a transparent, digital-first way to manage their treasury.
By combining the stability of the Australian Dollar with the efficiency of blockchain, AUDD creates a bridge between traditional finance and the digital economy.
⚙️ How it works
At its core, AUDD is simple: it’s a digital token that always equals one Australian Dollar. But behind the scenes, a robust system ensures this stability and trustworthiness.
🪙 Backing by Real Assets
- Every AUDD is backed by Australian dollars held in cash or cash equivalents, such as Treasury instruments issued by the Reserve Bank of Australia.
- Funds are safeguarded in accounts with authorised deposit-taking institutions, with protections under Australia’s Financial Claims Scheme.
💸 Minting and Redemption
- When Australian dollars are deposited, an equal amount of AUDD is minted (created) on the blockchain.
- When AUDD is converted back to cash, the tokens are burned (removed from circulation). This ensures the supply of AUDD always matches the reserves.
⛓️ Blockchain Technology
- AUDD is issued directly on multiple blockchains, including EVM and Non-EVM compatible chains.
- This blockchain-agnostic approach makes AUDD flexible and widely usable, while avoiding the risks of bridging.
- Transactions are instant, secure, and publicly verifiable on the blockchain.
💡 Always On
- Unlike traditional banking systems, AUDD operates 24/7, enabling businesses to send and receive money at any time, anywhere in the world.
Updated 3 months ago