On October 25, 2024, 0xMantle announced the launch of Agora's $AUSD stablecoin, which aims to provide a secure digital currency backed by cash, U.S. Treasury bills, and overnight repo agreements. This launch is a significant advancement for financial solutions within the Mantle ecosystem. Agora's $AUSD stablecoin solves problems found in traditional bridged stablecoins, such as time locks and capital inefficiencies, offering a more reliable option for businesses. The stablecoin currently operates on Ethereum, Avalanche, and Sui, with over $65 million in total value locked, and plans to expand to other blockchains like Solana in the future. The launch of $AUSD marks the beginning of Stablecoin 3.0, promoting an equal model that benefits all users, and aims to encourage more liquidity and utility for businesses within the Mantle ecosystem. The CEO of Agora, Nick van Eck, expressed excitement about the partnership with Mantle and the potential for the stablecoin's growth in digital finance.



Other News from Today