Agora, a stablecoin startup founded by Nick van Eck, has successfully raised $50 million in a Series A funding round led by crypto venture firm Paradigm. This investment aims to bolster the adoption of its white-label stablecoin, AUSD, positioned to compete in the growing market for dollar-backed digital assets. Agora allows companies to create their own branded stablecoins using the AUSD infrastructure, benefiting from shared liquidity and interoperability. The startup has previously collaborated with projects like Polygon and is exploring partnerships beyond just blockchain-focused firms. Despite operating in a competitive landscape dominated by giants such as Circle and Tether, Agora aims to innovate its white-label issuance model. In response to regulatory uncertainties in the U.S., Agora is prioritizing international markets, particularly regions experiencing currency volatility. The company is preparing to obtain money transmitter licenses, anticipating the opportunity to serve U.S. customers as federal regulatory frameworks emerge. Additionally, Agora seeks to distribute the yield generated from its reserve assets back to its partners, framing stablecoins as public goods rather than traditional profit-driven entities.

Source 🔗