In Brief
- Agora secures $50 million Series A funding led by Paradigm, with Dragonfly Capital participation.
- Funds will expand AUSD, Agora’s programmable stablecoin, to more blockchains.
- Stablecoin legislation (GENIUS Act) is advancing in the U.S. Senate.
Stablecoin platform Agora raised $50 million in a Series A funding round led by Paradigm, alongside participation from Dragonfly Capital. The investment, secured Thursday, bolsters Agora’s mission to serve as a foundational infrastructure for programmable stablecoins, enabling institutions to rapidly launch compliant stablecoin solutions.
The capital infusion supports Agora’s expansion of its integrated stablecoin platform and the upcoming launch of white-label stablecoin services, allowing firms to brand and deploy stablecoins without managing underlying infrastructure.
This funding announcement coincides with renewed legislative focus on stablecoins. Last month, the U.S. Senate approved the General Purpose Money and Ensured National Understanding Stability (GENIUS) Act, creating a regulatory framework for stablecoin issuance and trading.
Agora, founded in 2020 by Nick van Eck (son of fund manager Jan van Eck), Drake Evans, and Joe McGrady, previously raised an additional $12 million in seed funding (April 2023). The company had already secured a seed round the preceding year.
AUSD operates on 13 distinct blockchain networks, spanning major chains including Ethereum, Solana, Polygon, Avalanche, and Arbitrum. Notable active users include Nonco, Flowdesk, VanEck, Conduit, and Plume Network.
“By establishing shared liquidity and compliance infrastructure from inception, branded stablecoins can deploy in days rather than months,” Nick van Eck recently stated. “AUSD provides immediate access to on-chain liquidity, major exchanges, and compliant redemption pathways through its shared asset.”
AUSD, the platform’s native digital dollar, is fully backed by cash and high-quality collateral including U.S. Treasury bills and secured repurchase agreements. Despite adopting robust underwriting standards comparable to traditional finance, Agora expresses its intent to pursue U.S. regulatory licenses simultaneously with its current international operations structure.
The new investment capital positions Agora to capitalize on accelerating interest from traditional financial institutions regarding blockchain-based payment systems. Major players including Visa, Mastercard, Stripe, and PayPal are increasingly exploring stablecoin solutions amidst evolving regulatory landscapes.
“Stablecoins have transitioned from a niche technology to foundational primitives for the future financial infrastructure,” Agora commented regarding its platform vision. “Our infrastructure makes it easier for institutions to safely leverage stablecoin capabilities and accelerate the development of programmable money applications.”
