The Universal Digital Payments Network (UDPN) has integrated the Australian Digital Dollar (AUDD) into its platform, broadening its support for regulated stablecoins. Initially launched in Davos, UDPN aims to bridge the gap between centralized and decentralized digital currency systems. With the addition of AUDD, the network now includes a multi-chain stablecoin supported on networks like Stellar, XRP Ledger, and Ethereum.

In a recent announcement, UDPN revealed that AUDD would join the U.S. dollar and euro in its basket of supported assets. This move aims to meet the growing demands of the digital economy by providing businesses with an alternative for managing financial operations.

UDPN Expands Support for Australian Stablecoin

Developed by fintech firm AUDC, AUDD is collateralized one-to-one by Australian dollars. Effie Dimitropoulos, CEO of AUDC, highlighted that this collaboration is expected to accelerate the adoption of AUDD both within Australia and globally. The integration aims to reduce friction and enhance the flexibility of international payments.

Launched in 2023, UDPN functions as a SWIFT-style system for bank-issued and regulated digital currencies. The network has already been tested by tier-1 banks like Deutsche Bank and Standard Chartered’s SC Ventures for transferring and swapping USD Coin (USDC) stablecoins.

Developed by GFT Group and Hong Kong-based Red Date Technology, UDPN has attracted numerous partners. This includes financial lenders from the U.S., Australia, Latin America, and Europe, all of whom are conducting their own tests on the network.

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