UDPN Expands Global Financial 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 Tokenized Deposit/Stablecoin Management System and a Digital Asset Tokenization 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.
Learn more!
To learn more about the Universal Digital Payment Network (UDPN) and how it can benefit your organization or to arrange a demonstration, interested parties are encouraged to visit udpn.io or to reach out via email at contact@udpn.io
Media contacts: media@udpn.io & media@audd.digital
About AUDC Pty Ltd
AUDD is brought to you by AUDC Pty Ltd, an innovative fintech company utilising blockchain technology to revolutionize money. With decades of experience and a rich background in digital money products and solutions, such as mobile money, digital wallets, QR codes, tokens, vouchers, pre-paid products, and more, the step to bring a digital asset to life — the AUDD stablecoin was a natural progression for digital finance.
For more information about AUDD, please visit:
About Universal Digital Payments Network
The UDPN is a distributed ledger technology (DLT) underpinned messaging backbone that provides interoperability between the fast-growing number of regulated stablecoins and CBDCs to enable seamless connectivity between any business IT system and regulated digital currencies. The network was developed with contributions from global IT engineering and solutions provider GFT, decentralised cloud infrastructure company Red Date Technology, and tier-one financial service providers. The UDPN Alliance is currently running a series of 12 PoCs with multiple global banks, technology companies, and payment service providers that allow participants to explore different use cases and scenarios.
For more information about UDPN, please visit:
About GFT
GFT is a digital transformation pioneer. By leveraging next-generation technologies, we enable clients to boost their productivity with intelligent software solutions. We focus on Digital Finance, Enterprise AI & Data Solutions, and Platform Modernisation.
For more please visit https://www.gft.com
About Red Date Technology
Red Date Technology is a decentralised cloud infrastructure company headquartered in Hong Kong that is dedicated to building next-generation multi-party system infrastructures for internet communications, digital economies, and digital payments.
