Australia’s digital dollar (AUDD) stablecoin has officially gone live on the Hedera Network on Thursday. AUDD is a fully collateralized and backed 1:1 to the Australian dollar. The launch on Hedera marks a big milestone in its availability on multiple chains, including Ethereum, Stellar, XRPL, Solana, and XDC.
AUDD Goes Live on Hedera Network
In an announcement on June 19, Hedera Foundation revealed that stablecoin issuer AUDC Pty Ltd has officially launched Australia’s digital dollar (AUDD) stablecoin on Hedera. The integration is expected to drive digital payments throughout Asia Pacific and beyond.
In fact, this marks the first time an Australian dollar stablecoin has been natively issued on Hedera using the Hedera Token Service (HTS). Also, it is the first commercial implementation of the Hedera Stablecoin Studio. Users can hold, send, and receive AUDD on Hedera-compatible digital wallets and interfaces.
“As the tokenization of goods, services, and assets accelerates, stablecoins like AUDD will be central to ensuring real-world currencies interact securely with decentralized finance,” said Effie Dimitropoulos, CEO of AUDC Pty Ltd.
AUDD stablecoin to benefit from Hedera’s enterprise-grade performance, including real-time AUD transfer, low fees of $0.001 USD per transfer, and a carbon-negative footprint. Hedera provides institutions with a stable, regulated, and interoperable digital currency that meets both performance and compliance needs.
HBAR Price to Rally?
HBAR price fell nearly 2% in the past 24 hours, with the price currently trading at $0.1476. The 24-hour low and high are $0.144 and $0.1508, respectively. Furthermore, the trading volume has decreased by 12% in the last 24 hours, indicating a decline in interest among traders.
However, traders are confident about HBAR price rally as funding rates remain positive. Also, the SEC is deliberating to determine whether to approve or disapprove Nasdaq’s proposal to list the Canary HBAR ETF. The resultant weakness in price action is due to a “death cross” in April.
Currently, HBAR is down due to the escalation in the Israel-Iran conflict and uncertainty surrounding Trump tariffs. Notably, Bloomberg has reported that the US is preparing for a possible strike against Iran in the coming days.
