Agora's AUSD stablecoin has successfully conducted its first over-the-counter transaction, marking its transition from proof-of-concept to real-world application. CEO Nick van Eck highlighted this achievement in a recent statement. AUSD aims to compete in the stablecoin market alongside established players like Circle's USDC and Tether, positioning itself as a builder-focused stablecoin with gas-optimized smart contracts. As of January 6, the overall stablecoin market capitalization has exceeded $210 billion, with significant growth noted following President-elect Donald Trump's promises regarding the crypto landscape. The growth of stablecoins is also fostering advancements in decentralized finance (DeFi), which relies on stablecoins as a pathway to finance. The success of new entrants like Ethena's USDe, which reached a market cap of $6 billion, illustrates this trend, aided by high staking yields. Agora emphasizes that AUSD is fully backed by collateral from a major asset manager and undergoes regular audits, seeking to become a key player in the institutional stablecoin market.

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