TechFlow News — Agora has announced the launch of AUSD, a fully collateralized digital stablecoin pegged to the U.S. dollar, on the Avalanche network. After minting $40 million on the Ethereum mainnet within two weeks, over $20 million in AUSD has now been issued on Avalanche.
AUSD has integrated with key infrastructure in the Avalanche ecosystem such as Trader Joe and BENQI, offering users access to trading, lending, and staking services.
Backed 1:1 by cash, U.S. Treasury securities, and overnight reverse repurchase agreements, AUSD’s reserves are managed by VanEck. Currently, Agora serves markets outside the United States. As the stablecoin market is projected to reach $3 trillion by 2028, AUSD aims to provide global users with easier access to the U.S. dollar.
