Stablecoin issuer Agora will launch AUSD on Ethereum next month
Nick van Eck, CEO of stablecoin issuer Agora, stated that Agora will launch the Agora Digital Dollar (AUSD) on Ethereum next month (June), but it won't "pick winners and losers". Instead, it will attempt to collaborate with as many cryptocurrency exchanges, trading companies and fintech firms as possible. The AUSD will be fully backed by cash, US Treasury bills and overnight repurchase agreements. Meanwhile, VanEck - a $90 billion asset management company led by Jan van Eck as CEO - will manage the reserve fund for Agora.
Van Eck expressed his hope that AGORA could become the third iteration of stablecoins focusing on utility, liquidity and transaction methods.
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