NEW YORK,
Jan. 8,
2025 /PRNewswire/ -- Agora is pleased to announce
that it has executed the first over-the-counter ("OTC") transaction
of Agora's USD stablecoin (AUSD)
with Galaxy, a digital asset and blockchain leader providing access
to the growing digital economy. This significant milestone
underscores the growing demand for secure and reliable digital
dollar solutions in an evolving digital asset market.
AUSD is a fully backed stablecoin with collateral managed by one of the world's
largest asset managers, reserves regularly audited by leading
accountants, and assets custodied with one of the largest and
oldest custodians globally. With its focus on transparency and
builder-focused infrastructure, AUSD is designed to exemplify the
future of regulated digital dollars—secure, scalable, and
compliant.
"We are thrilled to partner with Galaxy on this
landmark transaction," said Nick Van
Eck, CEO and Co-Founder of Agora. "This trade marks the
transition of AUSD from proof of concept to real-world application,
showcasing its potential to capture market share in the maturing
digital economy. As U.S. regulations around digital assets take
shape, we are committed to meeting these standards and positioning
AUSD as a cornerstone of the institutional stablecoin market."
"Facilitating Agora's first OTC transaction
aligns with our mission to drive innovation and adoption in the
digital asset space," said Jason
Urban, Global Head of Trading at Galaxy. "We look forward to
continuing our collaboration as Agora leads the way in bringing a
compliant and transparent stablecoin
to the global financial system."
As a portfolio company of Galaxy Ventures, Agora
benefits from access to capital markets expertise, technical
insights, and strategic guidance through Galaxy's diversified
services. This partnership supports the shared commitment of both
companies to fostering a more secure and regulated digital asset
ecosystem.
This OTC transaction represents the first step in
Agora's mission to scale AUSD and establish it as a leading
stablecoin, advancing a compliant
digital economy while creating new financial opportunities in
underserved markets.
For more information about Agora and AUSD, please
visit Agora's Website.
About Agora
Agora is a stablecoin infrastructure and operations provider.
Agora's first product, AUSD, is 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. It is the most cost-efficient stablecoin to transact with due to its gas-optimized
smart contract, making it ideal for traders and payments.
About Galaxy
Galaxy (TSX: GLXY) is a digital asset and blockchain leader
providing access to the growing digital economy. We serve a
diversified client base, including institutions, startups, and
qualified individuals. Since 2018, Galaxy has been building a
holistic financial platform spanning three complementary operating
businesses: Global Markets, Asset Management, and Digital
Infrastructure Solutions. Our offerings include, amongst others,
trading, lending, strategic advisory services, investment
solutions, proprietary bitcoin mining and hosting services, network
validator services, and the development of enterprise custodial
technology. The company is headquartered in New York City, with global offices across
North America, Europe, and Asia.
Additional information about Galaxy's businesses
and products is available on www.galaxy.com
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SOURCE Agora