Australia-Indonesia Cross-Border Settlements via Stablecoins to be Explored

AUDC Pty Ltd and PT IDRX Indo Inovasi have signed a Memorandum of Understanding (MoU) to explore direct cross-border transaction settlement between Australia and Indonesia.

The two companies will examine the connection between AUDD, the Australian dollar stablecoin issued by AUDC, and IDRX, the Rupiah stablecoin issued by PT IDRX Indo Inovasi, through onchain transaction settlement.

This corridor has the potential to allow cross-border transactions between the Australian dollar and the Rupiah to be settled directly without using the US dollar as an intermediary currency.