Nick van Eck, CEO of Agora, unveils plans to introduce AUSD, a US dollar-pegged stablecoin, on the Ethereum (CRYPTO:ETH) network in June, marking the onset of the Stablecoin 3.0 era.
This initiative aims to revolutionise the digital dollar market by prioritising global currency markets, starting with Eurodollars.
VanEck takes charge of managing reserves to uphold AUSD's stability and reliability, while Agora's revenue-sharing model incentivises businesses to contribute to liquidity and utility.
With a focus on compensating businesses and the assurance of full backing by cash, US Treasury bills, and overnight repurchase agreements, AUSD endeavors to offer stability and capitalise on growth opportunities in the dynamic stablecoin landscape, positioning itself as a frontrunner in the evolving digital currency realm.