Well, shucks, folks! Agora’s got a whoppin’ $50 million in its Series A funding round, courtesy of Dragonfly Capital 🤑. What’s the plan, you ask? Why, it’s to rev up the development of its stablecoin infrastructure, of course! 🚀 This fancy tech is designed to support them new-fangled decentralized finance applications for issuing and managing stablecoins with ease.
Now, I know what you’re thinkin’, “Stablecoins? Ain’t they just a bunch of hooey?” But no sirree, they’re gettin’ mighty popular in the cryptocurrency world, and financial institutions are scramblin’ to get in on the action 🏃♀️. Agora’s one of ’em, and with this $50 million windfall, they’re fixin’ to build a full-stack stablecoin platform that’s “purpose-built to support the next generation of digital finance applications.”
Agora’s the outfit behind AUSD, a stablecoin that’s a mite different from the rest. See, they’re plannin’ to share the revenue from the token’s underlying backup with their partners, givin’ ’em a nice little incentive to join the party 🎉. But don’t get too excited, AUSD’s still a small fry in the stablecoin market, with a market cap of just $150 million 🐟.
Now, Agora’s got big plans to be an enabler for other companies to launch their own stablecoins 🚀. They’ve just launched a whitelabel platform that’ll make it easy peasy for third parties to issue, manage, and operate stablecoins.
About this solution, Agora said:
No need to manage complex infrastructure, secure banking relationships, liquidity, or build from scratch – Agora handles it all 🙌. We were long believers that to truly build a platform you needed to start with building the network.
Agora’s co-founder Jan Van Eck reckons there’s a hankerin’ for stablecoins outside the U.S. 🌎, what with inflation and cross-border payments and all. “A lot of different financial institutions outside of the U.S., I would say, are lookin’ more aggressively and will be quicker to move than some of the companies in the U.S. 🤠,” he opined.
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2025-07-11 13:57