Q: What is AUDDapt, and why did XDC Network decide to get involved?
Q: What specific problems does XDC Network’s infrastructure solve for small businesses when it comes to payments?
Sean White: The core problems SMEs face with cross-border payments are cost, speed, and visibility. Traditional banking infrastructure routes payments through multiple intermediaries, each taking a cut and adding time. A payment that should take minutes can take days, and at no point does the business owner have reliable visibility over where their money is. To solve these hurdles, XDC Network is designed to address all three of those problems directly. XDC settles transactions in seconds, at a fraction of the cost compared to the traditional channels, with full transparency at every step. That is the infrastructure made accessible to the SME’s through the AUDDapt- XDC track, further, our ecosystem partners are the cream on the top.
Q: What role does AUDD play in the program, and why is a locally regulated digital currency important?
Q: Beyond the grant funding, what does XDC Network bring to the table for businesses that opt into the XDC track?
Q: Beyond the initial cohort, what is XDC Network ultimately trying to prove with AUDDapt?
Sean White: The gap between what large institutions and small businesses can do with payments has existed for too long, and it is not a technology problem. The technology is there. XDC Network has been running it at an institutional scale for years. What has been missing is the will to make it accessible. AUDDapt is that moment. If we can put a real Australian business on infrastructure that settles cross-border payments in seconds at a fraction of traditional costs, we are not just helping one business. We are making the case that this is how SME finance should work everywhere. That is the story we are trying to write – the legislative mood set by the Government, as evident by today’s unfolding in Parliament, reinforces that we are indeed becoming a digital economy.
Q: What would you say to an Australian small business owner who is curious about AUDDapt but unsure whether it is right for them?
Sean White: The most significant thing to understand is that AUDDapt is not a program for technology experts. It is for the local Australian business that moves money and wants to do it faster and at a lower cost. The funding, the technical guidance, and the infrastructure are all provided through the program. What we are looking for are businesses with a genuine cross-border payment challenge and the willingness to approach it differently. The barriers to entry are lower than most small business owners expect. That is precisely what AUDDapt was designed to prove.
About XDC Network
About AUDC:
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