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Galaxy and Agora completed the first Over-the-counter Trading of Stable Coin AUSD
According to the announcement on January 8th, asset management company Galaxy and Stable Coinissuance party Agora completed the first Over-the-counter Trading involving Agora Stable Coin AUSD. “This transaction marks the transition of AUSD from concept validation to practical application,” said Nick van Eck, CEO of Agora, in a statement. Agora positions AUSD as a ‘builder-centric’ Stable Coin, aiming to attract traders and developers with ‘gas optimization’ smart contracts. It also states that the Stable Coin is fully backed by collateral held by one of the world’s largest asset management companies and undergoes regular reserve audits. Agora aims to position AUSD as the cornerstone of the institutional Stable Coin market as the regulation of digital assets in the United States takes shape.