Australian blockchain financial startup Ettle Pty Ltd has successfully <a href="https://www.ettle.com/wp-content/uploads/2022/11/Ettle_Media_Release_AUDE_Launch.pdf" target="_blank" rel="nofollow noopener">executed</a> a prototype transaction between corporate clients on its stablecoin infrastructure platform wth the use of the virtual Australian dollar token AUDE.
<h2>Ettle and Meadow Labs Collaboration</h2>
In a test, Ettle collaborated with Meadow Labs, a company that offers <a href="https://www.cryptoknowmics.com/news/apecoin-dao-launches-community-driven-nft-marketplace">NFT</a> development solutions, to transfer digital Australian dollars to one of its contractors who provides software development services.

In order to complete the transaction, Meadow Labs first created AUDE utilizing Ettle's one-of-a-kind self-service client interface before paying a contractor through the <a href="https://www.cryptoknowmics.com/news/ethereum-software-firm-consensys-reveals-it-collects-user-data">Ethereum</a> and <a href="https://www.cryptoknowmics.com/news/fifa-partners-with-algorand-to-launch-new-nft-platform">Algorand</a> blockchains. After that, the contractor used Ettle's gateway to redeem AUDE, receiving fiat into their bank account. In the first quarter of 2023, according to Ettle, the <a href="https://www.cryptoknowmics.com/news/hong-kong-concerns-stablecoin-volatility-impact-on-traditional-finance">stablecoin</a> would be made more widely accessible for usage by enterprises looking to access a digital Australian dollar.
<h2>Use of AUDE Stablecoin</h2>
The value of stablecoins, like AUDE, is tied to the Australian dollar rather than the U.S. dollar, which is the most common base asset. As opposed to using a platform provided by a third party, like <a href="https://www.cryptoknowmics.com/news/visa-submits-trademark-requests-for-digital-wallets-nfts-and-metaverse">Visa</a>, they may execute settlement on-chain, lowering counterparty risks and speeding up transactions.

Clients may include AUDE in payment flows owing to <a href="https://www.cryptoknowmics.com/news/free-crypto-apis-for-crypto-enthusiasts">APIs</a> and a self-service site created by Ettle. The foundational blockchain for AUDE is Algorand, with Ethereum support upon launch. As use cases and demand expand, more development will be made on other chains.
<h2>Addition of AUDE to Other Companies</h2>
The renowned Australian fintech startup Novatti Group Limited introduced its stablecoin, the AUDD on the Stella blockchain on November 1, adding AUDE to the increasing number of stablecoins backed by the Australian dollar. Customers could swap the AUDD online or through the company's application directly 1:1 with Australian dollars.

Australian Finance Company Ettle Introduces the AUDE Stablecoin

With the use of AUDE token, Ettle has successfully executed prototype transaction between corporate clients on its stablecoin infrastructure platform

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Australian Finance Company Ettle Introduces the AUDE Stablecoin

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