Nick van Eck's stablecoin startup Agora secured $50 million in a Series A led by Paradigm to expand its AUSD-based services.
The crypto custodian rated USDC and AUSD poorly for regulatory oversight and reserve management, while executives from VanEck, Coinbase and others questioned the ranking.
Agora's AUSD is the latest entrant into the burgeoning stablecoin market.
The man behind AUSD is a true believer in the critical role that stablecoins can play in emerging markets.
AUSD now powers AggLayer on Polygon, optimizing crosschain liquidity and eliminating token bridges.