Injective introduces its first native stablecoin, AUSD, aiming to improve transaction efficiency and reliability within its ecosystem.
AUSD Features and Advantages
AUSD is backed by a diverse range of assets, including cash, U.S. Treasury bills, and reverse repurchase agreements. VanEck handles reserve management, while State Street provides custodial services. Each AUSD token can be redeemed for one U.S. dollar, contributing to its stability. Users can buy, trade and sell AUSD without encountering bridging issues that often hinder fund movements.
Market Context and AUSD Growth
Since its launch, AUSD's circulating supply has surged to over $65 million, with daily trading volumes exceeding $15 million across blockchains like Ethereum, Avalanche, and Sui. Stablecoins are the third largest asset category in the crypto ecosystem, with dollar-backed stablecoins holding a 99.7% market share.
Benefits of Injective's Infrastructure
Low transaction fees and high throughput on Injective allow for real-time transactions. This year, over 1 billion transactions have been processed. Paxos recently launched a stablecoin, Wrapped $USDL, on Injective, and previously launched the first tokenized index for BlackRock's $BUIDL fund.
The launch of AUSD marks a significant development for the Injective ecosystem and stablecoins in general, with ongoing technological advances supporting high liquidity and stability.
