Agora

Stablecoin

Wormhole

Drake

AUSD

<div class="intro-text">
 Stablecoin issuer Agora has chosen the cross-chain protocol Wormhole as its primary interoperability provider for its AUSD offering.
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In a recent blog post, Wormhole <a style="color: #0000ff;" href="https://wormhole.com/blog/agora-selects-wormhole-as-core-interoperability-solution-for-ausd-stablecoin" rel="noopener noreferrer nofollow">announced</a> its plans to expand the reach of the stablecoin AUSD across various blockchain networks. Currently active on Ethereum, Avalanche, and Sui, Agora aims to extend AUSD’s reach to additional blockchain networks, including Solana, Aptos, Arbitrum, Base, and BNB Chain.
Through its partnership with Wormhole, Agora aims to reduce liquidity fragmentation by utilizing Wormhole’s non-transferable token framework, ensuring that tokens maintain their intrinsic properties across various chains. The integration also seeks to lower transaction costs and enhance transparency as AUSD gears up for further expansion, with Solana as the next target.
Nick van Eck, CEO and co-founder of Agora, explained that the decision to partner with Wormhole for interoperability was motivated by the need for early multichain support to enhance user experience and accelerate expansion to new ecosystems. 
<blockquote>
 “This integration lowers the barriers to accessing, transferring, and using AUSD,” 
</blockquote>
he said, noting the importance of seamless cross-chain functionality for one of the fastest-growing stablecoins.
Robinson Burkey, co-founder and CCO of Wormhole Foundation expressed pride in supporting Agora’s mission to broaden access to the U.S. dollar. He stated, 
<blockquote>
 “Through Wormhole NTT, Agora customers will gain access to more users and liquidity across major blockchain networks.” 
</blockquote>
Burkey emphasized that this partnership aligns with Wormhole’s efforts to boost institutional adoption of digital assets and enhance user trust in on-chain transactions.
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Founded in 2024 by Nick van Eck, Drake Evans, and Joe McGrady, Agora aims to create an open, inclusive stablecoin network. In April, the startup <a style="color: #0000ff;" href="https://www.prnewswire.com/news-releases/agora-has-raised-a-12m-seed-round-led-by-dragonfly-302106149.html" rel="noopener noreferrer nofollow">secured</a> $12 million in a funding round led by Dragonfly, focusing on regulatory compliance for its platform launch. Other vital investors included Wintermute Ventures, Galaxy, and Consensys.
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This announcement coincides with Wormhole’s growing influence among institutional players. Wormhole recently <a href="https://defi-planet.com/2024/09/securitize-and-wormhole-collaborate-for-cross-chain-tokenization/" rel="noopener noreferrer nofollow">partnered</a> with Securitize to introduce multichain functionality to tokenized treasury bills. Under the agreement, Securitize will customize Wormhole’s messaging protocol with its smart contracts to meet regulatory requirements for asset managers.
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The post <a href="https://defi-planet.com/2024/10/agora-partners-with-wormhole-for-ausd-interoperability-across-multiple-blockchains/" rel="noopener noreferrer nofollow">Agora Partners with Wormhole for AUSD Interoperability Across Multiple Blockchains</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Agora Partners with Wormhole for AUSD Interoperability Across Multiple Blockchains

DeFi Planet

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