Agora, a stablecoin issuer, and Galaxy, a digital asset manager, have successfully completed the first over-the-counter (OTC) transaction involving Agora’s USD stablecoin (AUSD). This milestone signifies AUSD’s transition from a proof-of-concept to practical application in the digital asset market.
Nick van Eck, CEO of Agora, highlighted the significance of this achievement, stating that it underscores the growing demand for secure and reliable digital dollar solutions amid the evolving digital asset landscape.
AUSD positions itself as a “builder-focused” stablecoin, aiming to attract traders and developers through gas-optimized smart contracts. It is fully backed, with collateral held by a major asset manager, and undergoes regular reserve audits to ensure transparency and trustworthiness.
The introduction of AUSD adds to the competitive stablecoin market, currently dominated by incumbents like Circle’s USD Coin (USDC) and Tether’s USDT. As U.S. regulations around digital assets continue to evolve, Agora aims to position AUSD as a cornerstone of the institutional stablecoin market, offering a secure and efficient digital dollar solution for various applications.
