What is AUDD?

AUDD is Novatti’s Australian Dollar (A$) backed stablecoin intended for facilitating payments, transactions and remittances between businesses and their customers.

AUDD will be held in custody by the issuer, Novatti subsidiary AUDC PTY LTD.

Unlike other stablecoins that are collateralised with algorithms or cryptocurrencies, AUDD is collateralised on a 1:1 basis by Australia’s sovereign currency. This means the risk of the AUDD depreciating in value is minimised. For every AUDD that it mints, AUDC PTY LTD will hold 1 A$ in reserve.