UDPN expands global payments infrastructure with the integration of Australian Digital Dollar (AUDD)
In a significant move to expand its global payments infrastructure for regulated digital currencies, Universal Digital Payments Network (UDPN) today announced the integration of the Australian Digital Dollar (AUDD) onto its platform.
This strategic addition positions UDPN to support regulated stablecoins pegged to three major currencies: US Dollar, Euro, and now the Australian Dollar.
AUDD is designed to meet the increasing demands of the digital economy, providing a stable and reliable banking alternative, especially suited for businesses aiming to manage their financial operations with enhanced stability and efficiency. Backed 1-to-1 by Australian Dollars and blockchain-agnostic, AUDD not only broadens UDPN’s reach but also enables UDPN clients to expand their market presence and forge connections with global partners.
“This collaboration is expected to accelerate the adoption of AUDD both within Australia and globally, reducing friction and enhancing the flexibility of international payments. Our existing and prospective AUDD clients already participate in the borderless digital world and demand more efficient and transparent means by which to transact in digital commerce. Our integration with UDPN aims to close that gap,” added Effie Dimitropoulos, CEO at AUDC.
Historically, financial infrastructures have been designed primarily for domestic transactions. However, with global business interactions becoming more prevalent, there is a need for a system that can accommodate the speed and complexity of today’s international business environment. UDPN addresses this issue by facilitating quicker and more reliable payments and seamless foreign exchange services, which traditionally could take several days and incur substantial fees.
Early this year, UDPN introduced several innovative commercial solutions, including a Tokenised Deposit/Stablecoin Management System and a Digital Asset Tokenisation System, to bridge the gap between traditional banking systems and modern financial technology.
“The integration of AUDD into the UDPN is a testament to our ongoing efforts to bridge traditional banking with cutting-edge financial technology. This step not only broadens our platform’s capabilities but also demonstrates our commitment to supporting regulated digital currencies worldwide. We are thrilled to see the innovation and efficiency this will bring to our clients within the digital currency ecosystem,” stated Steffen Schacher, Digital Assets Lead at GFT.
