The Australian Securities and Investments Commission (ASIC) granted an Australian Financial Services License (AFSL) to AUDC Pty Ltd, issuer of the Australian Digital Dollar, making AUDD the first Australian dollar-backed stablecoin with full regulatory authorization to operate as a non-bank payment instrument on the XRP Ledger.
This authorization allows banks, companies and institutional providers to issue, custody and transact AUDD within the current legal framework, eliminating all regulatory ambiguity.
The stablecoin maintains a 1:1 parity with the Australian dollar through cash reserves or equivalents held at local financial institutions. It is not a CBDC, but rather a private instrument audited by independent third parties. AUDD was already operating on networks such as Ethereum, Stellar, Solana, Hedera and XRP Ledger prior to obtaining the license, where it had processed billions of dollars in cross-border settlements and treasury flows.
With the AFSL now in force, the XRP Ledger becomes an officially enabled channel for offering tokenized payments in Australian dollars. According to reports from Panews and MEXC, banks can use AUDD on XRPL for real-time settlements, internal transfers and participation in tokenized asset markets.
Source: https://www.audd.digital/
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