Agora Raises $50 Million to Power Next Wave of Stablecoins

Stablecoin platform Agora has collected $ 50 million in a series of A -round led by paradigm, with extra support from Dragonfly Capital, because it tries to take advantage of the growing interest in the potentially lucrative sector.

The financing supports the expansion of the all-in-one system of Agora for publishing and managing Stablecoins, as well as the introduction of its new white-labeled Stablecoin product, the company announced Thursday.

The increase comes as The US Congress is considering the Stablecoin legislation. In June, the American Senate Kehen acted De Genius Act, who determines a framework for publishing and acting of stabilecoins.

Founded by Nick van Eck, the son of Fondsbeheer Luminary Jan van Eck, together with crypto-veterans Drake Evans and Joe McGrady, Agora’s Raise follows an extra $ 12 million Seed round in April last year.

The Native Agora Dollar Stablecoin of the Platform, Ausdhas been rolled out in several networks, including Ethereum, Solana, Polygon, Avalanche and Arbitrum. Companies that use Agora’s services are nonco, Flowdesk, Vaneck, Conduit and Plume Network.

“By building a shared liquidity and compliance infrastructure from the start, we let Merkstablecoins not launch for months, with immediate access to liquidity on chains, large exchanges and conforming off-disamps via AUSD,” said Nick van Eck, said Decrypt.

The active is supported by cash, American treasury accounts and return agreements, even though it is not yet available for American customers.

“Agora is dedicated to the pursuit of licenses where and if applicable,” Van Eck added. “Ausd is not offered to us today; we operate under a non-American entity and actively represent the American licenses parallel.”

With the debut last year, Agora’s Stablecoin platform can enable developers and institutions to introduce and manage programmable digital dollars.

With the new capital, the company said that it would introduce a White label Stablecoin service, allowing companies to launch their own stablecoins from the brand without managing the underlying infrastructure itself.

Renewed interest of large financial players in blockchain-based payments and arrangement tools, including Visa, Mastercard, Stripe and PayPal, has sent them to a new whole series of Stablecoin products while political winds continue to take advantage.

“Stablecoins are no longer niche,” the company said. “They have become a fundamental primitive for the future of finance and capital markets.”