Coinspeaker Agora Completes First OTC Transaction with AUSD, Expanding Digital Dollar Solutions
Stablecoin provider Agora has completed its first over-the-counter (OTC) transaction involving its USD stablecoin, AUSD. The company revealed that the project was carried out in collaboration with Galaxy, a leading digital asset blockchain firm founded by Michael Novogratz.
Agora noted that the completion of this milestone demonstrates the growing demand for secure and reliable digital dollar solutions for transactions. CEO and co-founder of Agora, Nick Van Eck, stated that the trade marks AUSD’s transition from proof of concept to practical use. He added that Agora is committed to complying with emerging US regulations while positioning AUSD as a key player in the institutional stablecoin market. He said:
“This trade marks the transition of AUSD from proof of concept to real-world application, showcasing its potential to capture market share in the maturing digital economy. As US regulations around digital assets take shape, we are committed to meeting these standards and positioning AUSD as a cornerstone of the institutional stablecoin market.”
Strategic Partnerships Drive Agora’s Growth in the Digital Asset Space
Agora explained that AUSD is a stablecoin supported by robust collateral and managed by a top-tier asset manager. Its reserves are regularly audited by leading accounting firms, and its assets are held by globally renowned custodians. AUSD prioritizes transparency and aims to set a standard for regulated digital dollars that are secure, scalable, and compliant.
Jason Urban, Global Head of Trading at Galaxy, stated that supporting Agora with its first OTC transaction aligns with the firm’s goal of promoting innovation and adoption of digital assets. He expressed anticipation for strengthening their partnership in the future. Urban said:
“Facilitating Agora’s first OTC transaction aligns with our mission to drive innovation and adoption in the digital asset space […] We look forward to continuing our collaboration as Agora leads the way in bringing a compliant and transparent stablecoin to the global financial system.”
Agora Plans to Extend AUSD Presence Across Multiple Blockchains
As a portfolio company of Galaxy Ventures, Agora benefits from capital market expertise, technical knowledge, and strategic support through Galaxy’s wide-ranging services. The partnership between the two firms reflects their commitment to creating a secure and regulated digital asset space.
The completion of the OTC transaction marks just the beginning, as Agora has ambitious plans to expand AUSD. The company aims to strengthen its position in the regulated digital economy while opening new financial opportunities in underserved markets.
Initially minted on the Ethereum blockchain, the continuous adoption of Agora is driven by various crypto integrations, including collaborations that brought AUSD to the Avalanche, Sui, and Injective networks. Its optimized smart contract for gas efficiency makes it one of the most economical stablecoin for transactions, making it ideal for traders and payments.
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Agora Completes First OTC Transaction with AUSD, Expanding Digital Dollar Solutions