Agora, co-founded by Nick Van Eck, is set to launch its US dollar stablecoin, AUSD, on Injective‘s blockchain, aiming to create a bridge for liquidity between decentralized and traditional finance markets.
What Happened: Backed by VanEck's asset management and custodied by State Street, AUSD will be collateralized with a basket of cash, U.S. treasury bills, and overnight repurchase agreements, ensuring a 1:1 ratio with the US dollar.
This integration is expected to widen AUSD's availability within the Injective ecosystem, facilitating transactions across decentralized exchanges (DEXs), on-ramps, and lending platforms.
“The launch of AUSD on Injective underscores the dominance of USD-backed stablecoins—with 99.7% market share—as an institutional-grade asset for capital formation and movement,” Van Eck said in a blog post.
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With Injective's established infrastructure processing over $40 billion in USD-backed stablecoin volume, the addition of AUSD seeks to capitalize on Injective’s active ecosystem, boasting over 500,000 addresses and 1 billion transactions annually.
AUSD's inclusion aims to simplify cross-chain liquidity flow without compatibility barriers, appealing to users and dApps alike.
The broader stablecoin market, dominated by US dollar-pegged assets, continues to grow as a critical component of the digital asset ecosystem, boasting a total market capitalization exceeding $170 billion.
The launch of AUSD on Injective aligns with broader discussions on the role of institutional-grade stablecoins in DeFi.
What’s Next: These discussions are set to be featured at the Benzinga Future of Digital Assets event on Nov. 19, where industry leaders will explore the growing overlap between stablecoins and mainstream finance.
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