Australian Digital Dollar (AUDD) to launch on Hedera Network following partnership with HBAR Foundation
Australian Digital Dollar (AUDD) have announced a strategic partnership with the HBAR Foundation to launch AUDD as a Hedera Token Service (HTS) token on the Hedera network. This partnership marks a significant milestone for AUDD to be a leading digital asset meeting the fast-growing demands of the global digital economy.
Enhancing Digital Finance on the Hedera Network
The integration of AUDD onto the Hedera network brings with it the benefits of the Hedera network’s cutting-edge technology, which is known for its high throughput, low latency, and energy efficiency. The Hedera network stands out for its ability to handle thousands of transactions per second, with finality times of less than a second, making it an ideal platform for real-time financial applications. These capabilities ensure that AUDD can offer businesses and consumers faster, more efficient, and more secure digital transactions.
Effie Dimitropoulos (pictured), CEO of AUDC Pty Ltd, highlighted the strategic importance of this partnership, stating, “Launching AUDD on the Hedera network is a transformative step in our journey to revolutionise digital payments. The unparalleled speed and security of the Hedera network align perfectly with our goal to provide a stable and scalable solution for the digital economy. This partnership with the HBAR Foundation will enable us to extend AUDD’s utility, offering real-time, low-cost transactions that meet the demands of modern financial systems.”
Expanding AUDD’s Reach in the Global Digital Economy
The launch of AUDD on the Hedera network ensures that AUDD’s strategy continues to extend its versatility and accessibility across multiple platforms. By leveraging Hedera’s robust infrastructure, the utility of AUDD will grow strongly, particularly in sectors requiring rapid, secure, and low-cost digital transactions.
This partnership is expected to drive significant adoption of AUDD, both within Australia and globally, particularly in industries such as international remittances, escrow services, and real-time payment settlements. The Hedera network’s ability to process high volumes of transactions at low cost will be crucial in supporting the growing demand for AUDD as a stable and reliable digital currency.
“AUDC’s mission to improve the efficiency, transparency, and accessibility of financial transactions both domestically and internationally aligns perfectly with Hedera’s capabilities,” said Sabrina Tachdjian, Head of Fintech & Payments at The HBAR Foundation. “The launch of a Hedera native AUDD stablecoin will support the growth of Hedera’s growing payment ecosystem, from facilitating cross-border payments to global client onboarding onto digital asset marketplaces on the network. With Australia being a major exporter of agricultural and industrial commodities, as well as home to a sizable domestic payments market, a Hedera-native AUDD has a strategic role to play in APAC and beyond.”
