Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Agora completes first live transaction of AUSD stablecoin

Agora completes first live transaction of AUSD stablecoin

GrafaGrafa2025/01/09 04:50
By:Mahathir Bayena

Agora, alongside asset manager Galaxy, successfully completed the first over-the-counter transaction involving its stablecoin AUSD (CRYPTO:AUSD), marking a significant milestone in the stablecoin market.

The transaction, announced on January 8, 2025, transitions AUSD from a proof-of-concept to a live application, according to Agora's CEO, Nick van Eck.

AUSD aims to differentiate itself by being a "builder-focused" stablecoin, targeting traders and developers with "gas-optimised" smart contracts.

This launch positions AUSD as the latest entrant in a market already dominated by stablecoins like Circle's USDC (CRYPTO:USDC) and Tether's USDT (CRYPTO:USDT), with other newcomers such as Ethena’s USDe (CRYPTO:USDE) also gaining traction.

The broader stablecoin market has experienced notable growth, with a combined market capitalisation of over $210 billion as of January 6, 2025.

Tether and USD Coin continue to dominate, with market caps of approximately $137 billion and $45 billion, respectively.

The stablecoin sector has expanded particularly within decentralised finance (DeFi), where stablecoins serve as critical on-ramps for users engaging with DeFi protocols.

Agora’s AUSD aims to tap into the growing institutional demand for stablecoins, offering full backing with collateral from one of the world’s largest asset managers, along with regular reserve audits.

The company has expressed its intent to establish AUSD as a foundational stablecoin within the institutional market, especially as U.S. digital asset regulations evolve.

The success of DeFi protocols, such as Ethena's USDe, which saw a market cap of $6 billion in December 2024, highlights the increasing adoption and use cases for stablecoins in DeFi applications.

At the time of reporting, the AUSD (AUSD) price was $0.9993.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Ethereum Classic ($ETC) Eyes a 510% Breakout Rally

Ethereum Classic could surge over 510% to $127.65 as a major breakout pattern emerges.Why the $127.65 Target MattersShould You Pay Attention?

Coinomedia2025/05/11 16:33
Ethereum Classic ($ETC) Eyes a 510% Breakout Rally

Doginme Made Early Buyers Rich—Now Arctic Pablo Coin Is Leading the Next Meme Coin Gold Rush

While Doginme showed how fast gains can arrive in meme markets, Arctic Pablo Coin is showing how they can be structured, incentivized, and sustainable.Doginme: The Meme Token That Ran With the Big DogsArctic Pablo Coin’s 66% APY: The Meme Coin Presale With Real UtilityIceberg Isle and the Numbers That Matter: $0.000125 Entry, 6,300% ROIArctic Pablo Coin Is Built for the Long Run: Why It Belongs Among the Top New Meme Coins for Exponential Returns

Coinomedia2025/05/11 16:33
Doginme Made Early Buyers Rich—Now Arctic Pablo Coin Is Leading the Next Meme Coin Gold Rush