Key Takeaways
- Agora has announced that AUSD, its native stablecoin, will be added to AggLayer.
- AUSD’s addition to AggLayer will enable seamless cross-chain transactions and payment facilitation.
- The stablecoin is backed by VanEck, which has $100 billion in assets under management.
Financial startup Agora has announced that its AUSD stablecoin will be added to AggLayer, a cross-chain settlement platform co-developed with Polygon and its collaborators.
The integration of the new player in the stablecoin market will enable developers to seamlessly leverage it across every chain and platform that supports the AggLayer.
AggLayer Integration
Announced at the Aggregation Summit in Bangkok on Monday, Nov. 11, Agora said AUSD’s addition to AggLayer will enable seamless cross-chain transactions and payment facilitation.
The integration will “serve as a stable store of value across connected platforms without additional stablecoin integrations,” Agora said.
The financial startup said developers will gain immediate access to a trusted, fiat-collateralized asset with deep liquidity.
“AUSD is a fully-backed, neutral stablecoin that’s designed to bring all the liquidity in the AggLayer together, amplifying its impact for everyone,” said Nick van Eck, Agora CEO and co-founder.
Agora AUSD
AUSD’s Reserve Fund is managed by VanEck, which has $100 billion in total assets under management and is held by State Street, which oversees $4.1 trillion in assets.
The assets supporting AUSD include short-dated U.S. treasury bills, cash, and overnight reverse repurchase agreements.
So far, the stablecoin has been launching on some of the largest Layer-1 blockchains and is circulating with a market cap of $70 million across the Ethereum, Avalanche, and Sui networks.
AUSD sets itself apart from other stablecoins by pursuing an open partner model. This model enables participating businesses to earn income directly from their use of AUSD.
“Unlike models that funnel profits to a single exchange or partner, AUSD is about building a more egalitarian economic network,” Eck said.
“Income from AUSD is shared across network participants, and we’re teaming up with businesses and chains to let them use this cash flow in the manner that suits their business,” he added.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
