Injective Launches Agora’s AUSD As Its First Native Stablecoin
In Brief
Injective announced the launch of its first native stablecoin on the Injective network: Agora’s fully collateralized US digital dollar, AUSD.
Blockchain platform optimized for finance, Injective announced the launch of its first native stablecoin on the Injective network: Agora‘s fully collateralized US digital dollar, AUSD. Supported by VanEck and custodied by State Street, AUSD provides users with one of the industry’s most stable assets, enabling efficient transactions between Injective and primary markets.
“AUSD is differentiated from other stablecoins in how it offers users full yield. This makes it a powerful vehicle in Injective’s initiatives—including burn auctions and on-chain staking—to ensure that project users are the core beneficiaries of ecosystem revenue,” said Eric Chen, CEO and Co-Founder of Injective Labs, in a written statement. “Support from VanEck and State Street is a testament to Injective’s and Agora’s potential to achieve our collective mission of merging institutional and DeFi systems through decentralized financial infrastructure,” he added.
AUSD, as a native stablecoin, enhances interoperability within Injective’s extensive decentralized finance (DeFi) network. It standardizes trading across various markets, allowing users to earn yields through staking and lending while benefiting from Injective’s increasing economic value. By removing the need for additional bridges, AUSD provides seamless on- and off-ramp capabilities between Injective and centralized exchanges, facilitating a more liquid financial ecosystem where both DeFi and traditional finance (TradFi) market makers can collaborate effectively.
Injective‘s launch of Agora adds to the momentum of the stablecoin market, which has become the third largest sector of the cryptocurrency ecosystem, following Bitcoin and Ethereum. The stablecoin market currently has a total market capitalization exceeding $170 billion. Presently, more than $65 billion in stablecoins are traded daily, which is nearly equivalent to the combined daily transaction volume of Visa and Mastercard.
Exploring AUSD Stablecoin: What Is It?
AUSD is fully backed by assets managed by VanEck, which oversees a total of $100 billion in assets under management (AUM) and is custodied by State Street, with $4.1 trillion in total AUM. The assets backing AUSD include US Treasury bills, cash, and overnight reverse repurchase agreements. Since its launch, AUSD has only been introduced on the largest Layer 1 blockchains, with its circulating supply exceeding $65 million across Ethereum, Avalanche, and Sui.
“The launch of AUSD on Injective underscores the dominance of USD-backed stablecoins—with 99.7% market share—as an institutional-grade asset for capital formation and movement,” said Nick van Eck, CEO and Co-Founder of Agora, in a written statement. “Injective’s ecosystem has processed more than $40 billion in volume across USD-denominated stablecoins since launch. Given their milestone of over 1 billion on-chain transactions this year and over 500,000 total active addresses, Injective offers the most robust ecosystem to support AUSD natively,” he added.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
