- AUDF (Australian Dollar Stablecoin)
- An Australian Dollar stablecoin pegged 1:1 to AUD, issued by licensed providers. AUDF can be
converted to other stablecoins like USDC for cross-border settlement. In the AIxSafe network,
AUD is first converted to AUDF before being exchanged for USDC.
- Correspondent Banking
- A system where banks use intermediary banks (correspondents) to process international payments.
Each intermediary adds time, cost, and complexity to cross-border transfers. A typical SWIFT
transfer passes through 2-4 correspondent banks, contributing to the 2-5 business day settlement
window.
- FX Rate Lock
- The practice of fixing a foreign exchange rate at the time of funding, before the transaction is
executed. This eliminates FX uncertainty and allows businesses to know the exact cost before
committing. In stablecoin settlement, the rate is locked and fully visible, unlike traditional
banking where FX margins are opaque.
- Liquidity Provider
- A licensed entity that provides the ability to convert between different stablecoins or between
stablecoins and fiat currencies. Liquidity providers facilitate efficient cross-border
settlement by offering competitive conversion rates and sufficient market depth.
- Nostro/Vostro Account
- Bank accounts held by one bank at another bank in a foreign country. Nostro accounts ("ours at
theirs") and vostro accounts ("theirs at ours") are used in correspondent banking to settle
cross-border payments. These accounts are a key source of settlement delay in the SWIFT network.
- NPP (New Payments Platform)
- Australia's real-time payments infrastructure. NPP transfers clear same-day, making them the
fastest way to fund stablecoin-based settlement. When AUD is sent via NPP, the stablecoin
conversion can begin within hours rather than days.
- Off-ramp
- The process of converting a stablecoin (such as USDC) back into fiat currency (such as USD) and
depositing it into a traditional bank account. Off-ramping is the final step in stablecoin-based
settlement, typically completing within same-day or next business day.
- On-chain Settlement
- The process of completing a financial transaction on a blockchain network. On-chain settlement
provides immutable records, deterministic timestamps, and near-instant finality. Unlike
traditional banking settlement which takes days, on-chain settlement completes in minutes.
- On-ramp
- The process of converting fiat currency into a stablecoin. In the AIxSafe flow, AUD is on-ramped
to AUDF through a regulated banking partner. The on-ramp step is where AUD deposits are received
and stablecoins are minted.
- Orchestration Layer
- Software infrastructure that coordinates multiple service providers — banks, stablecoin issuers,
liquidity providers — to execute a payment flow. AIxSafe operates as an orchestration layer,
meaning it does not issue stablecoins, custody funds, or execute trades directly. It provides
routing, coordination, and reporting.
- Settlement Finality
- The point at which a payment is irrevocably completed and cannot be reversed. On-chain
settlement achieves finality in a single transaction, compared to multi-day settlement windows
in traditional banking where reversals and chargebacks remain possible for extended periods.
- Stablecoin
- A digital asset pegged to a fiat currency (such as USD or AUD) and backed by reserves.
Stablecoins maintain a stable value, making them suitable for payments and settlement rather
than speculation. Common stablecoins include USDC (US Dollar) and AUDF (Australian Dollar).
- SWIFT (Society for Worldwide Interbank Financial Telecommunication)
- A messaging network used by banks to send payment instructions for cross-border transfers. SWIFT
itself does not move money — it sends messages between banks that then settle through
correspondent banking relationships. SWIFT transfers typically take 2-5 business days.
- Transaction Hash
- A unique identifier for a blockchain transaction, generated cryptographically. Transaction
hashes provide an immutable reference that can be independently verified on the blockchain for
audit purposes. In stablecoin settlement, the transaction hash serves as definitive proof of
when and where settlement occurred.
- USDC (USD Coin)
- A widely-adopted stablecoin pegged 1:1 to the US Dollar, issued by Circle. USDC is audited,
regulated, and available on multiple blockchain networks. It is the primary settlement currency
in the AIxSafe network for cross-border payments.