First AUSD Deal: Agora and Galaxy Introduce a New Stablecoin

user avatar

by Giorgi Kostiuk

2 years ago

Asset manager Galaxy and stablecoin issuer Agora have completed the first over-the-counter transaction involving AUSD, as announced on January 8.

First Real-World Application of AUSD

According to Nick van Eck, CEO of Agora, this trade marks the transition of AUSD from proof-of-concept to real-world application. AUSD is a new stablecoin seeking to capture market share from incumbents such as USDC and USDT, joining other newcomers like Ethena's USDe.

Growing Stablecoin Market

Stablecoin market capitalizations increased sharply after Donald Trump's election win in November. By the end of 2024, the combined market capitalizations of the top three stablecoins grew by more than $25 billion. According to CoinGecko, as of January 6, the total stablecoin market capitalization exceeds $210 billion.

DeFi Use Cases

Stablecoins are particularly bullish for decentralized finance (DeFi), where they serve as the on-ramp. An example is Ethena's protocol, whose stablecoin USDe reached a market cap of approximately $6 billion. AUSD positions itself as fully backed and builder-focused, appealing to developers and traders with optimized smart contracts.

As US regulation of digital assets develops, Agora aims to position AUSD as a cornerstone in the institutional stablecoin market.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

MEXC Launches 'Trading Takes Two' Campaign to Showcase AI Capabilities

MEXC is launching a month-long campaign titled 'Trading Takes Two' to showcase how MEXC AI supports users in their trading journey.

user avatarTenzin Dorje

HTX Research Highlights Risks in Stock-Linked Memecoins

HTX Research's report highlights the risks of stock-linked memecoins, focusing on misleading high APY figures and the importance of understanding market conditions.

user avatarBayarjavkhlan Ganbaatar

HTX Research Unveils Insights on Stock-Linked Memecoins

HTX Research has released a report on stock-linked memecoins, analyzing their market structure and growth potential.

user avatarMohamed Farouk

BAI Builds Closed-Loop Infrastructure for the Agent Economy

BAI is building a closed financial loop for the agent economy, integrating models and agents to facilitate seamless transactions.

user avatarDiego Alvarez

BAI Sets New Industry Record with 151 Trillion Tokens Daily Throughput

BAI has set a new industry record with a daily throughput of over 151 trillion tokens, marking a significant increase since its launch.

user avatarElias Mukuru

Justin Sun Prize Launched to Transform Scientific Research

The Justin Sun Prize has been established to redefine scientific rewards in the AI era, offering up to $1 million for breakthroughs in fundamental disciplines and machine formal verification.

user avatarKenji Takahashi

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.