Stablecoin infrastructure agency Agora has raised $50 million in a Collection A spherical led by Paradigm with participation from Dragonfly Capital.
In response to a July 10 announcement, the funding will help enlargement of Agora’s AUSD ecosystem and the rollout of a white-label product that lets firms launch their very own stablecoins in days. The platform is stay throughout 13 blockchains, together with Ethereum (ETH), Solana (SOL), and Arbitrum (ARB). It powers billions in cumulative stablecoin quantity and serves over 50,000 month-to-month lively addresses.
AUSD, Agora’s flagship stablecoin, is pegged to the U.S. greenback and backed by money, short-term U.S. Treasuries, and repurchase agreements. Whereas its present market cap sits round $130 million, the corporate believes demand for stablecoin infrastructure is simply simply starting.
Alongside the fundraise, Agora introduced the formal launch of its white-label stablecoin product. The turnkey resolution affords companions full-stack companies reminiscent of regulatory compliance, liquidity administration, CEX and DEX integrations, minting infrastructure, and native international trade on/off ramps.
Minting utilizing USD Coin (USDC) or Tether (USDT) is fee-free, and companions can share within the yield generated from reserve property. Agora says the brand new product is supposed to simplify what has been a posh and gradual course of for many firms. It is going to make it simpler for fintechs, exchanges, and platforms to problem stablecoins with out having to navigate banking relationships, liquidity sourcing, or infrastructure buildout.
Shoppers already utilizing Agora’s platform embody VanEck, Flowdesk, Conduit, and Plume. Galaxy just lately settled an over-the-counter commerce utilizing AUSD, marking a step towards broader adoption in institutional finance.
The announcement comes amid rising international curiosity in stablecoin adoption, fueled by new regulatory readability. Agora holds cash transmitter licenses within the U.S. and is increasing its companies overseas.
