

Backed by VanEck's asset management and custodied by State Street, AUSD will be collateralized with a basket of cash, U.S. treasury bills, and overnight repurchase agreements
Agora, co-founded by ETF mogul Nick Van Eck, is set to launch its US dollar stablecoin, AUSD, on Injective’s blockchain in a bid to create a bridge for liquidity between decentralized and traditional finance markets.
Backed by VanEck's asset management and custodied by State Street, AUSD is touted as the "first fully on-chain, institutional-grade stablecoin" to be integrated into Injective's ecosystem.
According to a statement, AUSD will be fully collateralized with a basket of cash, U.S. treasury bills, and overnight repurchase agreements, ensuring a 1:1 ratio with the US dollar at all times.
This integration is expected to make AUSD widely available throughout the Injective ecosystem, facilitating transactions across decentralized exchanges (DEXs), on-ramps, and lending platforms within the Injective network.
“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,” Van Eck said in a blog post.
Injective boasts an active ecosystem with over 500,000 addresses and 1 billion transactions annually, and the addition of AUSD aims to capitalize on this network.
Injective’s infrastructure has processed over $40 billion in USD-backed stablecoin volume, and the integration of AUSD seeks to tap into this liquidity pool.
AUSD's inclusion is also expected to simplify cross-chain liquidity flow without compatibility barriers, appealing to users and dApps.
The broader stablecoin market, dominated by US dollar-pegged assets, continues to grow as a critical component of the digital asset ecosystem, boasting a total market capitalization of over $170 billion.
The launch of AUSD on Injective aligns with broader discussions on the role of institutional-grade stablecoins in DeFi.
These discussions will be featured at the Benzinga Future of Digital Assets event on Nov. 19, where industry leaders will explore the growing overlap between stablecoins and mainstream finance.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The above is the detailed content of Agora Launches AUSD USD-Backed Stablecoin on Injective, Targeting DeFi-TradFi Liquidity Bridge. For more information, please follow other related articles on the PHP Chinese website!

Artemis (ARTMS), an emerging cryptocurrency, has become the talk of the investment town. It will be the first innovative market project in the world

For truly decentralized DeFi protocols, community members and holders of the platform's native token can vote on proposals.

Yield farming has quickly become the most popular strategy in the Decentralized Finance (DeFi) space. By staking or lending crypto assets, users can earn huge returns that may often outpace those of traditional financial systems. The high yields offe

Binance Coin (BNB) was launched in July 2017 by Binance, one of the largest cryptocurrency exchanges globally. Initially created as an ERC-20 token on the Ethereum blockchain, BNB later migrated to Binance Chain, the proprietary blockchain developed

This cooperation opens the path for a new age whereby Artificial Superintelligence (ASI) and decentralized Artificial General Intelligence (AGI) will be developed and included in the Injective ecosystem.

The global crypto market capitalization soared by 6.1% in July, drawing tailwinds from positive industry developments. Among them are value-adding news from

Liquidity has been the backbone of decentralized finance (DeFi) since its inception. However, securing liquidity through locked capital poses long-term challenges

Is the market’s volatility keeping you on edge or presenting fresh opportunities? Today, the crypto market cap stands at $3.15 trillion

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

EditPlus Chinese cracked version
Small size, syntax highlighting, does not support code prompt function

Dreamweaver Mac version
Visual web development tools

ZendStudio 13.5.1 Mac
Powerful PHP integrated development environment

SublimeText3 Mac version
God-level code editing software (SublimeText3)

mPDF
mPDF is a PHP library that can generate PDF files from UTF-8 encoded HTML. The original author, Ian Back, wrote mPDF to output PDF files "on the fly" from his website and handle different languages. It is slower than original scripts like HTML2FPDF and produces larger files when using Unicode fonts, but supports CSS styles etc. and has a lot of enhancements. Supports almost all languages, including RTL (Arabic and Hebrew) and CJK (Chinese, Japanese and Korean). Supports nested block-level elements (such as P, DIV),
