Injective announced the launch of a new native stablecoin, AUSD, aimed at enhancing transaction efficiency and reliability within the ecosystem.
AUSD: A Reliable Stablecoin?
AUSD is backed by a diverse range of assets, including cash, U.S. Treasury bills, and overnight reverse repurchase agreements. Reserve management is entrusted to VanEck, with custodial services provided by State Street. Each AUSD token is designed to be redeemable for one U.S. dollar, providing users with stability. AUSD will be widely available across various dApps, including DEXs, staking, and lending.
Market Context and Growth
Since its inception, AUSD's circulating supply has surged to over $65 million, with daily trading volumes exceeding $15 million. The stablecoin market has become the third largest sector in the cryptocurrency ecosystem, valued at over $170 billion.
Advantages of Injective's Infrastructure
Injective's low transaction fees and fast throughput ensure real-time transactions. Injective has also achieved over 1 billion transactions this year. Paxos recently introduced Wrapped $USDL on Injective, and Injective launched the BUIDL Index, offering 24/7 exposure to tokenized assets.
The launch of AUSD strengthens the position of U.S. dollar-backed stablecoins and enhances the interaction between DeFi and TradFi markets on the Injective platform.
