AUDE is now live on Algorand and Ethereum!
Ettle has launched a fully reserved, cash-backed Australian Dollar stablecoin (AUDE) that is held in trust, redeemable, and will be independently audited to always ensure a cash backing for each and every stablecoin on issue.
Ettle will offer its AUDE stablecoin as an on-ramp for its web 3.0 partners as well as offering AUDE on multiple exchanges and multiple chains. Initially AUDE will be minted on Algorand and Ethereum with more chains to come. Every AUDE token is fully redeemable for its underlying value from its fully banked treasury.
Ettle will ensure that all AUDE redemptions meet its stringent KYC/AML compliance obligations. Users can be assured that Ettle satisfies the highest compliance and security standards possible to ensure the privacy and security of all its users and that the treasury balance always matches the tokens on issue.
Ettle was incubated by Meld Ventures in October 2021 and formally established at the beginning of 2022. Ettle has both stablecoin infrastructure as well as technology that allows it mint and redeem tokens on demand.
Ettle launches it partnership with a licensed Trustee and Custodian (The SILC Group).
The Ettle team develops a robust compliance model incorporating full KYC and AML processes. Full testing and legal sign-off on the new processes was completed in May.
Ettle’s commercial partners and vendors play an important role in enabling the delivery of Ettle’s products and services. These partners include, but are not limited to, the custodian, trustee, auditor AML/CTF/KYC platforms, payments providers, exchanges and many more.
The Ettle engineering team completes final integration and testing of smart contract API's and integration with its custodial partner in preparation for Testnet Launch.
A significant milestone for Ettle, testnet launch provided the opportunity for a select group of customers to trial a test minting of AUDE in conjunction with the Engineering Team.
Following a productive and informative testnet launch, AUDE goes live on both Algorand and Ethereum mainnet for a series of pilot use cases before becoming commercially available.