[ccpw id="5"]

Home.forex news reportAgora-Backed AUSD Stablecoin is Live on Sui

Agora-Backed AUSD Stablecoin is Live on Sui

-

[ad_1]

Agora, the stablecoin company led by early-stage finance and technology industry veterans Nick van Eck, Drake Evans, and Joe McGrady, has launched its industry-disrupting AUSD stablecoin on Sui (https://sui.io/), the Layer 1 blockchain offering industry-leading performance and infinite horizontal scaling. AUSD adds a key dimension to Sui’s surging list of native assets, being the first institutional-grade US dollar stablecoin to deploy in the Sui DeFi ecosystem.

“By integrating first-class assets like AUSD natively on the network, Sui is empowering developers and offering essential access to DeFi for a new class of institutional users,” said Gap Kim, Global Head of Marketing for Sui Foundation. “As the Sui ecosystem continues to grow, opportunities for innovation and financial accessibility on Sui will also expand exponentially, benefiting the entire Sui community.”

Building on its prior successes on Ethereum and Avalanche, AUSD’s integration into the Sui Network immediately enhances its utility, accessibility, and interoperability. Within the first six weeks of contract deployment on Ethereum and Avalanche, nearly $60M AUSD has been minted with $5M+ of daily DEX volume. The integration has already begun improving liquidity and market efficiency within Sui’s rapidly expanding DeFi ecosystem, which at the time of writing boasted over $600 million in Total Value Locked (TVL) and consistently ranks among the top chains in weekly DEX trading volume.

“AUSD’s remarkable growth and early success across the industry sets the stage for the next even more impactful chapter on Sui,” said Nick van Eck, Co-Founder of Agora. “Leveraging Sui’s cutting-edge infrastructure and unparalleled scalability, AUSD will thrive and drive significant advancements within the DeFi and Payments ecosystem. This collaboration is a pivotal step forward in our mission to create a more inclusive and accessible financial future for all.”

AUSD joins a growing number of stablecoins on Sui, which drive the development of robust DeFi applications and expand the adoption of blockchain technology. By leveraging Sui’s scalable, high-performance network, these stablecoins contribute to a high-performance environment where developers and users can innovate and focus on delivering superior experiences without being restricted by the technological limitations that have constrained other networks. Agora’s integration with Sui also continues to expand the reach of AUSD and furthers the growth of the global AUSD network and liquidity.

This article was written by FM Contributors at www.financemagnates.com.

[ad_2]

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Trade ideas thread – Wednesday, 11 September, insightful charts, technical analysis, ideas

High risk warning: Foreign exchange trading carries a...

ICYMI – Bank of Japan officials see little need to raise the benchmark rate at Sep meeting

Adam posted on this during the US session:Bank of Japan officials see little need to hike ratesThe report comes via Bloomberg (gated) who say:Bank...

Paul Marshall bolsters media baron credentials with £100mn Spectator purchase

Hedge fund boss Paul Marshall has acquired The Spectator for £100mn, pledging to keep the conservative magazine as an independent part of his growing...

This London Man's £2.6M Crypto ATM Scheme Just Blew Up in His Face

The UK's Financial Conduct Authority (FCA) has taken unprecedented action against an individual accused of running an illegal network of cryptocurrency ATMs. As the market watchdog emphasizes,...

Follow us

0FansLike
0FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img