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Australian startup Ettle Pty Ltd.introduced the AUDE stablecoin, pegged to local fiat currency. AUDE can run on Ethereum and other blockchains compatible with the Ethereum Virtual Machine.
The first transaction in AUDE was made forpayment for software development services. Ettle hopes that in the near future, any companies that need to conduct transactions in Australian currency will be interested in the capabilities of AUDE.
“We believe that the future success of Web3 projectswill largely depend on the use of reliable stablecoin infrastructure,” said Ettle CEO James Hill.
AUDE is not the only stablecoin peggedto the Australian dollar. Previously, one of the country's leading fintech companies, Novatti, introduced the stable cryptocurrency AUDD on the Stellar blockchain, and a large local bank, ANZ, launched the stablecoin A$DS this spring.
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