Agora, Galaxy complete AUSD stablecoin’s first live transaction
Agora’s AUSD is the latest entrant into the burgeoning stablecoin market.
Asset manager Galaxy and stablecoin issuer Agora completed the first over-the-counter transaction involving AUSD, Agora’s stablecoin, according to a Jan. 8 announcement.
“This trade marks the transition of AUSD from proof-of-concept to real-world application,” Nick van Eck, Agora’s CEO, said in a statement.
Agora’s AUSD is the latest stablecoin seeking to capture market share from incumbents, such as Circle’s USD Coin (USDC) and Tether’s USDt (USDT). It joins other relative newcomers such as Ethena’s USDe.
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Author: Alex O’Donnell
