AUSD

AUSD, a digital dollar minted 1:1 with USD fiat. AUSD is designed to be a secure digital currency, utilizing one of the world’s largest custodian banks to safeguard assets.

AUSD enables users to participate in trading, lending and payments.

AUSD was introduced by Agora, a blockchain-based financial technology. The development and strategic direction of AUSD are led by Agora’s CEO, Nick van Eck, who has positioned the stablecoin as a response to the perceived shortcomings of yield-bearing stablecoins.AUSD is part of what Agora refers to as “Stablecoin 3.0,” aiming to address the limitations of earlier stablecoin models by providing enhanced security, reduced gas fees, and broader adoption potential. It is backed by a combination of cash, U.S. Treasury bills, and reverse repurchase agreements, managed by the asset management firm VanEck.

AUSD launched on July 7, 2024.

AUSD is designed to be used across different blockchain platforms for transactions, lending, and more. AUSD is particularly cost-efficient for transactions due to its gas-optimized smart contract, which reduces the fees typically associated with blockchain transactions. This efficiency makes AUSD an attractive option for traders and businesses looking to minimize costs while maximizing transaction speed and reliability.