Agora Finance Integrates AUSD as Native Stablecoin on Polygon’s AggLayer
Agora Finance, a Web3 company specializing in liquid stablecoins, announced the integration of its institutional-grade AUSD as a native stablecoin on the Polygon-backed AggLayer network. This integration aims to enhance interoperability within digital assets and Web3 technology.
The announcement occurred during the Aggregation Summit held in Bangkok, Thailand, on November 10-11. Post-integration, AUSD can be utilized by various Web3 protocols on the AggLayer for trading, payments, and other applications.
Blockchains that support AUSD, including Ethereum, Sui, Avalanche, Mantle, and Injective Network, will benefit from increased liquidity through AggLayer.
Nick van Eck, CEO and co-founder of Agora, stated that AUSD is a fully-backed stablecoin designed to unify liquidity within AggLayer, promoting an egalitarian economic network where income is shared among participants.
Market Impact on AUSD Following the AggLayer Integration
The integration will position AUSD competitively against other fiat-backed stablecoins such as PayPal’s PYUSD, First Digital USD, Tether USDT, and Circle’s USDC. The stablecoin market has surpassed $180 billion in valuation, with a daily average traded volume exceeding $112 billion.
Marc Boiron, CEO of Polygon Labs, highlighted that AUSD's integration into all chains within AggLayer enhances liquidity and interoperability, allowing seamless transactions and application development without fragmented liquidity management.
As of this report, AUSD holds a market cap of approximately $35.6 billion and a daily trading volume of around $18 million. Agora Finance collaborates with established firms, including State Street as cash custodian and VanEck as investment manager, to bolster trust within the crypto community.