Agora to launch US dollar stablecoin AUSD on Injective blockchain

Agora will launch its US dollar stablecoin, AUSD, on the Injective blockchain. This stablecoin is backed by VanEck's asset management and will be collateralized with cash and U.S. treasury bills, maintaining a 1:1 value with the dollar. The integration of AUSD aims to enhance liquidity between decentralized and traditional finance. It will facilitate transactions across decentralized exchanges and lending platforms within the Injective ecosystem, which has processed over $40 billion in USD-backed stablecoin volume. AUSD's launch reflects the growing importance of US dollar-pegged stablecoins in the digital asset market, which has a total capitalization exceeding $170 billion. Discussions on stablecoins' role in finance will take place at an upcoming industry event on November 19.