Stablecoin startup Agora receives $50 million in Series A funding led by Paradigm

PANews reported on July 10 that according to Fortune magazine, Agora, a stablecoin startup, announced that it had received a $ 50 million Series A funding led by blockchain venture capital giant Paradigm . Agora was co-founded by Nick van Eck , Drake Evans and Joe McGrady . It focuses on the AUSD stablecoin and helps other companies issue their own stablecoins through white label services. Agora 's current AUSD market value is $ 130 million, far lower than industry giants such as Tether and Circle , but the company said it will continue to focus on overseas markets to meet the demand for stablecoins brought about by cross-border payments and local currency fluctuations. In addition, Agora 's model also shares the income of US dollar assets with partners, aiming to encourage more financial institutions to participate in this field.