Stablecoin startup Agora has announced the completion of a $50 million Series A funding round, led by prominent crypto venture capital firm Paradigm, with participation from Dragonfly. This significant investment will enable Agora to further develop its stablecoin solutions and expand its services in the digital asset space.
Agora Secures $50M to Expand AUSD Platform
The funding round follows a $12 million seed round led by Dragonfly in 2024, bringing the total funding to roughly $62 million. Agora uses its knowledge of stablecoin technology to create financial solutions that help grow and increase the use of digital assets. Its leaders, including CEO Nick van Eck, maintain that they are well-equipped to handle the challenges of the stablecoin market.
The company’s stablecoin AUSD is designed to facilitate revenue sharing and cross-chain liquidity for partner companies. By providing white-label issuance services, the company enables businesses to add stablecoin solutions to their operations seamlessly.
Partner companies can enjoy the stability and efficiency of AUSD while still controlling their branding and customer relationships. Sharing revenue and enabling cross-chain liquidity is essential for companies that want to grow their digital asset capabilities. Agora’s innovative solutions can significantly boost the stablecoin market.
Stablecoin Sector Heats Up With New Investments
In recent months, the stablecoin market has witnessed significant global developments, with various companies paying closer attention. For instance, Galaxy Digital’s founder, Mike Novogratz, announced in June that it launched a $175 million venture fund for a strategic expansion aimed at backing startups bridging crypto and mainstream finance with stablecoins.
Elsewhere, Visa, the global payments giant, has taken a bold step to expand its stablecoin business across Central and Eastern Europe, the Middle East, and Africa (CEMEA). By teaming up with Yellow Card, a leading African crypto exchange, Visa aims to improve cross-border payments, treasury management, and liquidity solutions.
Visa’s stablecoin expansion in CEMEA nations promises lower remittance fees, faster trade, and greater financial inclusion, especially in Africa, by 2025.
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