Macropod

Macropod marketed AUDM as Australia's first fully regulated dollar stablecoin, its issuer among the earliest to hold an AFSL from ASIC for the purpose. Each token is backed by one Australian dollar sitting in segregated trust accounts at a major domestic bank, with reserve reports audited to confirm supply matches the cash held. Holders can redeem at par with the issuer, and the coin's first live use was a A$100,000 transfer between related parties before it reached exchanges. AUDM launched on Ethereum and Redbelly, an Australian-built blockchain, with Solana and Base added as it expanded. Like its local rivals, it targets a domestic payments and settlement niche rather than yield, betting that institutions want an AUD token whose licensing and custody they can point to. Whether Australia's several competing dollar coins can each find room remains an open question.