Agora, a cryptocurrency startup specializing in stablecoins, has just received a 50 million USD investment in Series A funding led by the investment fund Paradigm.
With AUSD as its flagship stablecoin, Agora supports businesses in issuing their own stablecoins through a white-label service, targeting the international market in response to the demand for cross-border payments and exchange rate volatility.
MAIN CONTENT
Agora raises 50 million USD in Series A funding to expand stablecoin services.
Startup focuses on developing stablecoin AUSD for cross-border payments.
Share USD asset income with partners to attract more financial institutions.
What kind of company is Agora in the stablecoin sector?
Agora is a cryptocurrency company specializing in stablecoins, founded by Nick van Eck, Drake Evans, and Joe McGrady. The company is notable for its stablecoin AUSD and provides a white-label service that allows businesses to issue their own stablecoins.
Led by Paradigm, one of the top investors in blockchain, Agora is developing a business model focused on the need for stablecoins in cross-border payments, helping to mitigate exchange rate risks and increase transaction efficiency.
What does the latest investment mean for Agora?
Successfully raising 50 million USD in Series A from Paradigm shows investors' strong confidence in Agora's potential. This is a significant stepping stone for the company to expand its market and enhance the AUSD product.
"This investment not only supports our development strategy but also affirms Agora's role in the global stablecoin ecosystem."
Nick van Eck, CEO of Agora, July 2024.
Why does Agora choose the international market as its development focus?
Agora focuses on the international market due to the increasing demand for cross-border payments and the exchange rate volatility between traditional currencies, which poses challenges for businesses. Stablecoins like AUSD help enhance stability and liquidity in transactions.
Although AUSD's market value currently stands at around 130 million USD, much lower than major competitors like Tether or Circle, Agora expects to expand rapidly through a model of sharing USD asset profits with affiliated financial institutions.
What stands out about Agora's revenue-sharing model?
Unlike traditional stablecoins, Agora applies a revenue-sharing model from USD assets with financial partners. This helps attract many participating organizations, contributing to the scale and stability of the AUSD ecosystem.
This strategy is considered an innovative approach to foster collaboration in the industry and create sustainable revenue streams from stable assets, according to experts in the DeFi field.
Compare Agora with major competitors in the stablecoin market.
Criteria Agora (AUSD) Tether (USDT) Circle (USDC) Market value 130 million USD ~66 billion USD (2024) ~43 billion USD (2024) Issuance method White-label service for businesses Centralized platform Centralized platform Revenue model Share USD asset income with partners Charge issuance and transaction fees Charge issuance and transaction fees Key market Cross-border, international payments Multinational, globally popular Multinational, globally popular
Frequently Asked Questions
1. What products does Agora specialize in? Agora focuses on developing the stablecoin AUSD and provides a white-label service for businesses to issue their own stablecoins. 2. Why did Agora receive significant investment from Paradigm? The investment aims to support Agora in expanding into international markets and developing products amid rising demand for stablecoins. 3. What makes AUSD different from other stablecoins? AUSD employs a model of sharing USD asset income with partners, attracting many financial institutions to participate. 4. How does the market value of AUSD compare to Tether or Circle? Currently, AUSD is valued at about 130 million USD, much lower than Tether and Circle, which are worth tens of billions of USD. 5. Why does Agora choose the international market as its focus? Due to the demand for cross-border payments and exchange rate volatility in large foreign markets, aligning with the advantages of stablecoins.
Source: https://tintucbitcoin.com/stablecoin-agora-goi-von-50-trieu-usd/
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