Agora secures $50M to expand stablecoin platform
Agora has raised $50 million in a Series A funding round led by Paradigm, with participation from Dragonfly Capital, to further develop its stablecoin platform and launch a white-label stablecoin service for businesses.
The company, which debuted its platform last year, aims to help enterprises introduce and manage their own branded stablecoins without having to oversee the underlying infrastructure.
“We believe stablecoins will underpin a new financial fabric, one that is faster, more global, and more efficient than today’s siloed systems. Agora exists to change that.” Agora stated.
The funding comes as the United States Congress advances stablecoin legislation, with the Senate passing the GENIUS Act in June to establish a regulatory framework for stablecoin issuance and trading.
Agora was co-founded by Nick van Eck, Drake Evans, and Joe McGrady, and previously raised $12 million in a seed round last year.
The platform enables developers and institutions to create programmable digital dollars, with its native stablecoin, AUSD, already available on Ethereum, Solana, Polygon, Avalanche, and Arbitrum.
AUSD is backed by cash, U.S. Treasury bills, and repurchase agreements.
Clients using Agora’s services include Nonco, Flowdesk, VanEck, Conduit, and Plume Network.
With the new capital, Agora will introduce a white-label stablecoin product, allowing businesses to launch branded stablecoins without managing complex infrastructure, banking relationships, or liquidity.
“No need to manage complex infrastructure, secure banking relationships, liquidity, or build from scratch.” the company said.
This move comes as traditional financial firms such as Visa, Mastercard, Stripe, and PayPal roll out their own stablecoin offerings.
“Stablecoins are no longer niche. They’ve become a foundational primitive for the future of finance and capital markets.” Agora noted.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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