• Agora raised $50 million in a Series A round led by Paradigm and Dragonfly to expand its programmable stablecoin, AUSD.
  • AUSD currently runs on 13 blockchains and is backed by cash, U.S. Treasury bills, and repurchase agreements.

Stablecoin platform Agora has raised $50 million in a Series A round, led by Paradigm with participation from Dragonfly Capital, as the company ramps up efforts to broaden its programmable stablecoin ecosystem and launch a white-labeled stablecoin service.

Founded by Nick van Eck, Drake Evans, and Joe McGrady, Agora launched its platform last year to help businesses easily create and manage their own branded stablecoins.

The new funds will support the growth of AUSD, its native programmable stablecoin, and the roll-out of Agora’s white-label service.

This will allow enterprises to launch stablecoins without building backend infrastructure themselves.

Agora’s AUSD currently operates across 13 blockchain networks, including Ethereum, Solana, Polygon, Avalanche, and Arbitrum. Its clients already include Nonco, Flowdesk, VanEck, Conduit, and Plume Network.

“By building a shared liquidity and compliance infrastructure from the start, we allow branded stablecoins to launch in days, not months, with immediate access to on-chain liquidity, major exchanges, and compliant off-ramps through AUSD,” said van Eck.

Backed by Cash and Treasuries, but Not Yet U.S.-Available

The AUSD stablecoin is backed by cash, U.S. Treasury bills, and repurchase agreements. However, it is not yet available to U.S. customers. Van Eck stated;

“Agora is committed to pursuing licensing where and when applicable. AUSD is not offered to U.S. persons today; we operate under a non-U.S. entity and are actively preparing U.S. licensure in parallel.”

The funding round comes at a time when the U.S. Congress is actively evaluating stablecoin legislation, including the recently passed GENIUS Act in the Senate, which provides a regulatory framework for stablecoins.

As financial giants like Visa, Mastercard, Stripe, and PayPal show renewed interest in blockchain-based settlement, Agora believes stablecoins are moving beyond niche use cases.

“They’ve become a foundational primitive for the future of finance and capital markets,” the company stated.

Edited by Annette George