Injective has announced the launch of its first native stablecoin AUSD by Agora, which is fully collateralized by the U.S. digital dollar. This event promises to enhance liquidity between DeFi and TradFi markets.
The Launch of AUSD
AUSD is backed by a variety of assets, including cash, U.S. Treasury bills, and repurchase agreements. The reserve management is carried out by VanEck, with custodial services provided by State Street. Each AUSD can be redeemed for one U.S. dollar, making it stable and appealing for users.
AUSD's Role in the Market
Since its inception, the circulating supply of AUSD has surged to over $65 million, with daily trading volumes exceeding $15 million across blockchains like Ethereum and Avalanche. This reinforces the dominance of USD-backed stablecoins, which represent a substantial $170 billion market share.
Advantages of Injective's Infrastructure
With low transaction fees and fast throughput, users can execute trades in real-time. Injective has surpassed 1 billion on-chain transactions this year. Paxos introduced Wrapped $USDL (wUSDL) with secure reserve backing, and the new BUIDL Index was launched to track BlackRock’s fund.
The launch of AUSD on the Injective platform shows the potential of stablecoins in enhancing financial liquidity and expanding DeFi. This new tool offers users expanded opportunities and strengthens the platform's market position.
