Stablecoin issuer Agora raises $50 million
Agora targets fintechs and institutions with branded AUSD infrastructure
Stablecoin startup Agora has raised $50 million in a Series A funding round led by Paradigm, setting the stage for a broader rollout of its white-label stablecoin offering, AUSD.
The funding round also saw participation from Dragonfly Capital, which exercised its pro-rata rights to deepen involvement, reports Cointelegraph.
The project—helmed by Nick van Eck, son of VanEck CEO Jan van Eck, alongside crypto veterans Drake Evans and Joe McGrady—aims to allow third parties to create branded stablecoins on top of AUSD’s shared liquidity infrastructure. This approach seeks to streamline issuance while enhancing interoperability across partners.
Taking aim at stablecoin incumbents
Agora enters a highly competitive stablecoin market dominated by Tether (USDT) and Circle (USDC), whose market caps stand at $158 billion and $62 billion respectively. Agora’s AUSD remains small by comparison, with a market cap under $130 million, but the company is aiming to differentiate itself through its white-label model and shared yield approach, offering revenue to ecosystem participants. Partnerships with projects like Polygon have already materialized, and Agora plans to broaden beyond crypto, targeting fintechs, payment processors, and institutions. The firm’s business model also appeals to firms seeking stablecoin exposure without building from scratch.
Global-first approach amid regulatory uncertainty
Due to regulatory uncertainty in the U.S. under the Biden administration, Agora has focused on international markets, prioritizing regions with currency volatility and cross-border payment inefficiencies. Still, founder Nick van Eck expressed optimism that U.S. opportunities may open up under potential legislation like the GENIUS Act. Agora is also preparing to secure money transmitter licenses for future domestic service.
Meanwhile, the firm has already marked a milestone: the first over-the-counter trade using AUSD, executed with asset manager Galaxy earlier this year. Agora’s model of sharing reserve yield with partners adds further differentiation in a field that may soon include tech giants like Meta, Apple, and X, as well as Trump-linked WLFI, which launched its USD1 stablecoin in Q2 2025.
Recently we wrote that Japanese investment firm Metaplanet is preparing to enter a new phase of its aggressive Bitcoin-focused strategy — leveraging its growing BTC reserves to acquire cash-generating businesses, with a digital bank in Japan under active consideration.
