Australia approves AUD stablecoin issued by AUDC Pty Ltd on XRP ledger

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Australia’s financial regulator, ASIC, has granted AUDC Pty Ltd a license to issue a regulated Australian dollar-backed stablecoin on the XRP Ledger, signaling a significant advancement in institutional blockchain adoption. This regulatory clarity facilitates Australian banks in issuing and transacting the AUDD stablecoin on-chain, thereby enhancing its use for payments and custody by financial institutions. Furthermore, AUDD is designed for multi-chain deployment, functioning across various enterprise blockchains like XRP Ledger, Hedera, Stellar, and XDC Network.

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