Transforming Cross-Border Transactions: An Interview with Sean White from XDC Network

XDC Network’s Sean White reveals how the newly launched AUDD–USDC pool is revolutionizing transaction times between Australia and the U.S., moving from several days to just minutes.

Key Takeaways

The AUDD–USDC liquidity pool enables faster and cheaper cross-border transactions between Australia and the U.S.
Traditional banking methods involve multiple intermediaries, causing delays and higher fees, while XDC provides direct on-chain settlements.
Interest from Australian businesses, particularly exporters and payment providers, is growing regarding the new infrastructure.
XDC has already processed over $1 billion in transactions, demonstrating significant advantages over correspondent banking.
Adoption steps for Australian businesses include collaborating with payment providers using the XDC infrastructure for seamless transactions.

Sean White, XDC Network

XDC Network Interview

Australian companies often encounter challenges when dealing with their U.S. counterparts, facing high banking fees and delays of 4-5 days for transaction settlements. In the fast-paced business world, such delays can lead to frustrations. To tackle these issues, XDC Network has introduced a blockchain-based payment infrastructure designed for business transactions between Australia and the U.S. We spoke with Sean White, Business Development and Ecosystem Manager at XDC Network, to learn more about how this new system can disrupt traditional banking methods.

Addressing Cross-Border Payment Challenges

Q: Sean, XDC Network recently launched the AUDD–USDC liquidity pool on Curve Finance. Why is this significant for businesses transferring funds between Australia and the U.S.?

Sean White: Cross-border payments are at a pivotal moment. Businesses no longer tolerate lengthy settlement times of 3-5 days and fees ranging from 3-7%. With available technology, transactions can now be completed in minutes. The AUDD–USDC pool provides a direct on-chain settlement route for Australian and U.S. businesses that is faster, lower in cost, and more transparent, all while adhering to compliance requirements.

Simplifying AUD–USD Settlement

Q: Can you explain how XDC facilitates near-instant AUD–USD settlements compared to traditional banks?

Sean White: Traditional banking involves numerous intermediaries and lengthy batch processing. With XDC, value transfers occur directly on-chain. AUDD serves as a fully reserved digital version of the Australian dollar, and USDC represents the U.S. dollar. The Curve pool ensures ample liquidity for quick conversions with minimal slippage. Settlements are executed at the blockchain level, avoiding delays and costs associated with multiple correspondent banks.

Growing Interest from Australian Businesses

Q: The IMF indicates that the Asia-Pacific region leads globally in digital currency adoption. What response have you seen from Australian businesses so far?

Sean White: There is significant interest, especially among exporters, payment providers, and trade finance platforms. Although we are still in the early stages post-launch, demand is particularly driven by trade invoice settlements, treasury management, and cross-border supplier payments.

Advantages of XDC’s Infrastructure

Q: Reports indicate that XDC's U.S. dollar infrastructure has processed over $1 billion in transactions in the last 90 days. What advantages does this offer over traditional correspondent banking, and how do you tackle regulatory or security concerns?

Sean White: The primary advantages are enhanced speed, reduced costs, and improved predictability. Blockchain-based settlement eliminates hidden fees, time zone delays, and reconciliation challenges. From a regulatory standpoint, XDC is tailored for institutional use, ensuring ISO 20022 compliance and compatibility with existing financial messaging standards. Additionally, security is robust, employing both protocol-level safeguards and enterprise-grade infrastructure, making it far more secure than many might think.

Expanding into New Markets

Q: AUDD is currently applied in live trade initiatives across Asia and the Middle East. How does extending this to the Australia-U.S. corridor contribute to that momentum?

Sean White: It is a logical progression. AUDD has shown its effectiveness as a settlement asset in Asian trade corridors such as Hong Kong, Singapore, and the UAE. Expanding to the Australia-U.S. corridor adds scale and international significance. This connection through shared on-chain liquidity paves the way for a truly interconnected trade settlement network, moving away from isolated bilateral systems.

Steps for Small and Medium Enterprises (SMEs)

Q: Small and medium enterprises often bear the brunt of cross-border fees. What practical steps should Australian businesses take to leverage this infrastructure?

Sean White: The first action is to collaborate with payment providers or platforms that are already building on XDC’s framework. Many are integrating this infrastructure into their services efficiently. Businesses can then settle invoices, manage treasury funds, or finance trade using stablecoins like AUDD, all without altering their core operations. Trust is paramount, which is why XDC emphasizes enterprise-grade security, compliance, and adherence to standards like ISO 20022 for smooth adoption.

Looking Ahead: XDC Network’s Ambitions

Q: Ultimately, what does this launch signify about XDC Network’s broader aspirations within global trade and payments?

Sean White: It demonstrates our commitment to real-world implementation, moving beyond theoretical concepts. Stablecoins are increasingly becoming preferred channels for cross-border payments, and XDC aims to be the blockchain layer that regulated institutions and businesses can utilize effectively. This initiative represents a modernization of trade and payment infrastructures—starting within the Asia-Pacific region, but with aspirations for global influence.