Agora Launches US Dollar Stablecoin AUSD on Injective Blockchain

October 31, 2011 - Injective Labs announced the launch of its first native stablecoin on the Injective blockchain, AUSD, a fully collateralised USD stablecoin from Agora.Backed by VanEck and hosted by State Street, AUSD is backed by high-quality U.S. bonds and overnight repurchase agreements to provide users with a stable trading option.

The Injective ecosystem, which has processed more than $40 billion in USD-denominated stablecoin trades since its inception, provides an ideal environment for Agora's issuance with superior infrastructure, low fees and fast trade confirmations, according to Nick van Eck, co-founder and CEO of Agora. Currently, AUSD has a circulating supply of $65 million, with over $15 million in daily trading volume, and further integration is planned in Injective's core applications such as DEX, pledge and lending protocols.