TechFlow reported, citing Cointelegraph, that Agora will launch its Ethereum-based digital dollar stablecoin, the Agora USD (AUSD), in June, in collaboration with multiple exchanges and fintech companies. The AUSD will be backed by cash and U.S. Treasuries, with VanEck managing the reserve fund.
Nick van Eck, CEO of stablecoin issuer Agora, stated that yield-bearing stablecoins deviate from the core mission of stablecoins, which should focus on utility and liquidity. Yield-bearing stablecoins may be classified as securities, potentially restricting their user base and liquidity, such as Dai (DAI) and Ethena's USDe.
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