Agora has raised 50 million USD in a Series A funding round led by Dragonfly Capital. This funding will support the development of Agora’s stablecoin infrastructure for decentralized finance applications.
Agora’s stablecoin, AUSD, features revenue sharing with partners, aiming to distinguish itself from competitors. Currently, AUSD holds a market cap of 150 million USD, marking its presence in the extensive stablecoin market.
The company aims to cater to international markets, addressing the growing demand for stablecoins, particularly due to inflation and cross-border payments, as articulated by co-founder Jan Van Eck.
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