Agora USD (AUSD), the flagship asset of stablecoin issuer Agora, has achieved a major first, becoming part of the first over-the-counter (OTC) transaction for AUSD, completed on January 8, 2025. It conducted the transaction alongside chain and digital asset firm Galaxy Digital, founded by Michael Novogratz.
Earlier today, Agora announced the development and detailed the growing need for digital dollar solutions in the global financial ecosystem. It’s a pivotal moment for AUSD’s adoption as a stablecoin and a robust transaction in the world of OTC where you leave your digital asset in a secured location, then withdraw the same quantity of it as cash from your bank account into your bank account.
“This trade marks the transition of AUSD from proof of concept to real-world application, showcasing its potential to capture market share in the maturing digital economy. As U.S. regulations around digital assets take shape, we are committed to meeting these standards and positioning AUSD as a cornerstone of the institutional stablecoin market,” Nick Van Eck, chief executive officer and co-founder of Agora, said in a statement.
Agora and Galaxy Digital Bridge Traditional Finance with AUSD
The timing of this milestone coincides perfectly with our mission at Galaxy Digital to spark innovation and mass adoption of digital assets on a global basis, said Jason Urban, Global Head of Trading at Galaxy. “With a robust and transparent stablecoin option, AUSD is giving users a great chance.”
Strategic partnerships and integrations have raised Agora in the digital currency landscape. Following the original minting on Ethereum, the stablecoin has recently gone live on prominent blockchain networks like Avalanche, Sui, and Injective. The bot AUSD has expanded the utility and accessibility of AUSD in decentralized finance (DeFi) ecosystems with these integrations.
Its model of stablecoin’s collateralization with reserves managed by Van Eck, a global asset manager with more than $100 billion in assets under management, guarantees reliability and transparency. AUSD’s custodian for its reserve is State Street, which ensures stability by overseeing the movement of $4.1 trillion in assets—just another strong symbol of the stablecoin’s emphasis on trustworthy, secure money.
AUSD is fully collateralized, minted on a 1:Currently it has a market capitalisation of $57.21 million and has 1 basis with the U.S. dollar. That growing market presence shows more and more confidence in the stablecoin solutions from institutional and retail investors alike.
Dragonfly, one of the biggest venture capital funding groups dedicated to crypto and blockchain, also supports Agora’s growth trajectory. Having such significant financial players behind AUSD gives it credibility as a stablecoin on the market and puts it on equal footing with other projects.
The OTC transaction between Agora and Galaxy Digital is an example of the way in which the space of stablecoins is performing a bridging role between traditional finance and the crypto world. This isn’t a milestone a digital dollar market should view as a nuisance; it’s a natural part of a maturing market for compliant, transparent digital assets.
Having a solid partnership foundation, a transparent collateralization model, and foresight strategic market expansion, Agora stands ready to contribute to the future of digital currency adoption.
