Ample FinTech Partners with AUDC for Central Bank Pilot ‘Project DESFT’, Exploring Multiple Digital Currency Interoperability in Programmable Cross-Border Payments
Ample FinTech and AUDC Pty Ltd proudly announce a partnership to integrate the Australian stablecoin AUDD and PBM3525 technology into Project DESFT, aiming to enable programmable cross-border payments between China, Singapore, and Australia.
Project DESFT (Digital Economy Semi-Fungible Token) is an initiative launched by the Monetary Authority of Singapore and the Bank of Ghana in June 2023, aiming to enhance the participation of micro, small, and medium enterprises (MSMEs) from developing countries in international trade.
In this Project DESFT collaboration, Ample FinTech and AUDC Pty Ltd mainly focus on highly automated digital credential processes in real international trade scenarios and implementing foreign exchange conversion and cross-border payments between AUDD and licensed Singapore Stablecoin based on the ERC-3525 standard Purpose-Bound Money (PBM3525) technology.
“The integration of AUDD and PBM3525 technology is pivotal, showcasing Ample FinTech and AUDC’s expertise and reputation in the fintech sector. This cooperation holds significant implications for Australia’s digital economy and trade, unlocking new opportunities that will drive financial inclusion and foster innovation,” said Effie Dimitropoulos, CEO, of AUDC Pty Ltd
ZheXin Wan, the Head of Research and the speaker at Ample FinTech, said: “The integration of AUDD and PBM3525 technology into Project DESFT is a testament to our commitment to pushing the boundaries of what’s possible in the digital economy. By leveraging our expertise in tokenization and programmable payments, we aim to set a new standard for cross-border trade efficiency and financial inclusion. This collaboration not only strengthens the digital economies of China, Singapore, and Australia but also opens up new opportunities for MSMEs from developing countries to participate in international trade. We are excited to work with AUDC Pty Ltd to bring this vision to life, paving the way for a more interconnected and innovative financial ecosystem.”
About AUDC
AUDC Pty Ltd is a Novatti Group majority-owned entity specialising in blockchain technology platforms that drive tokenisation such as stablecoins. Powering the 1:1 fiat-backed AUDD stablecoin with full transparency, AUDC plays a crucial role in shaping the stablecoin economy in Australia and beyond. AUDC provides comprehensive blockchain technology-driven payments solutions to businesses and clients worldwide.
About Ample FinTech
Ample FinTech is a Singapore-based FinTech company dedicated to building next-generation financial infrastructure, focusing on innovative tokenisation solutions for trusted credentials, privacy and programmable payments in the digital economy, especially in cross-border trade, international trade, supply chain finance and inclusive finance scenarios.
Photo by Clem Onojeghuo on Unsplash
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