Stablecoin issuer Agora has selected Wormhole as the interoperability hub for its stablecoin AUSD.
With the partnership, Agora hopes to reduce liquidity fragmentation by leveraging Wormhole’s non-transferable token framework to preserve the intrinsic properties of tokens on different chains. The integration also aims to lower transaction costs and improve transparency as AUSD prepares for future expansion, with Solana being the next target.
Agora’s CEO and co-founder Nick van Eck praised the collaboration, saying it “reduces barriers standing in the way of accessing, transferring, and using AUSD.”
The funding round saw participation from other prominent investors, including Wintermute Ventures, Galaxy, and Consensys.