book

Welcome to our
Resources library!

It’s your go-to spot for all things AUDD. This page is always growing with fresh news and blog posts. Is there something specific you’re curious about? Let us know, and we’ll make sure to cover it!

paper icon

FAQ

General

AUDD is the premier Australian Dollar (A$) backed stablecoin which is a type of digital currency. This will be reviewed and attested regularly by our external auditors.

AUDD is only minted and distributed upon confirmation of the equivalent A$ being received/present in the custodial bank account,  AUDC Pty Ltd. For security and best practice, AUDD is not pre-minted, or minted based on credit.

AUDD is a multichain solution, meaning it is available on more than one blockchain. AUDD is is currently natively deployed on Ethereum, Stellar and XRP Ledger. It will be deployed across more blockchains on a case-by-case basis.

AUDD is issued on multiple blockchains. Taking a ‘blockchain agnostic’ approach, we do not limit AUDD to one market or use case – much like you would not limit other payments to bank transfers or credit card payments.

AUDD functions on multiple blockchain technologies already on Stellar, XRP Ledger, and Ethereum. We intend to add AUDD to more blockchains on a case-by-case basis.

AUDD’s real currency backing will be fully transparent. During Q3 2024, our website will show the regular audit results where transaction data on the blockchain is reconciled with the actual A$ fiat currency holdings. In the meantime, you can visit the various blockchain explorers for AUDD activities.

The renaming was the result of a trademark filing complication. AUDC Pty Ltd had already registered AUDD alongside AUDC, so it was chosen as the logical choice to replace it.

Stability and Security

AUDD is 1:1 backed by Australian Dollars or short dated Treasury Notes held by the issuer, AUDC Pty Ltd.

Some key differences are that:

  1. CBDC is issued by a central bank, whereas stablecoins such as AUDD are issued by financial services institutions
  2. In a technology sense AUDD is validated through a public blockchain, whilst CBDCs will usually operate on private blockchains.
  3. CBDCs aim to maintain monetary control, while stablecoins serve multiple purposes, including digital payments and use in the digitally native ecosystem.

eAUD (Australia’s proposed CBDC) for example, would be centralised in nature, due to the restrictions or permissions placed upon it by the blockchain upon which it operates. The industry does not anticipate the release of eAUD for at least another five years and the current expectation is that it will be a wholesale token, not a retail product.

In contrast, we see that industry stablecoins, such as AUDD, will focus on solving business use cases and driving the digital transformation of payments.

AUDD is 1:1 backed by Australian Dollars, through cash or short dated Treasury Notes, held in Australian Financial Institution accounts by the issuer, AUDC Pty Ltd.

As AUDD is minted on an ‘as needed’ basis, the storage of AUDD by AUDC Pty Ltd for prolonged periods of time will not be required. The receiving entity purchasing the stablecoin (taking ownership of AUDD) is responsible for the custody of the AUDD they acquire.

You can find all AUDD activities at the official  Stellar explorer address here.

The official Ethereum contract address for AUDD can be found here.

The official XRP Ledger address for AUDD can be found here.


Have more questions? Head to our Digital Knowledge Base for more!