Agora Leverages Wormhole as Core Interoperability Solution for AUSD Stablecoin

Twitter icon  •  Published 2 months ago  •  Hassan Maishera

Agora, a Dragonfly-backed startup that aims to build an open, inclusive stablecoin network, selected Wormhole as a core interoperability provider for its AUSD stablecoin.

Agora Leverages Wormhole as Core Interoperability Solution for AUSD Stablecoin

On Wednesday, the Wormhole team announced via a blog post that Agora, the Dragonfly-backed startup aimed at building an open, inclusive stablecoin network, selected Wormhole as a core interoperability provider for their AUSD stablecoin.

By leveraging Wormhole’s multichain capabilities and secure infrastructure that caters to the development of institutional-grade stablecoins, the integration will unify liquidity across chains and increase AUSD access and transferability.

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

By leveraging Wormhole’s NTT framework, Agora can cut liquidity fragmentation by preserving the intrinsic properties of tokens on different chains.

Wormhole is a decentralized bridge between blockchains that enables the transfer of assets and data across different blockchain networks. It aims to facilitate interoperability and expand the capabilities of blockchain technology. W is trading at $0.3028, down 1% in the last 24 hours.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.