YEREVAN (CoinChapter.com) — Galaxy, a leading asset manager, and Agora, a stablecoin issuer, announced the successful completion of the first over-the-counter transaction involving the AUSD stablecoin on Jan. 8. This marks the entry of Agora’s stablecoin into real-world usage after its development phase.
“This trade marks the transition of AUSD from proof-of-concept to real-world application,”
said Nick van Eck, Agora’s CEO.
Agora AUSD OTC Transaction Announcement. Source: AgoraThe AUSD stablecoin is positioned to compete with established stablecoins such as Circle’s USDC and Tether’s USDt, along with newer players like Ethena’s USDe. Agora highlights its focus on providing “builder-focused” features, including gas-optimized smart contracts and a transparent reserve backing system.
Agora AUSD Features Overview. Source: AgoraStablecoin Market Grows to Over $210 Billion
As of Jan. 6, the total stablecoin market capitalization has exceeded $210 billion, with USDT and USDC leading the pack at $137 billion and $45 billion, respectively, according to CoinGecko data.
Stablecoin adoption has accelerated in recent months, driven by growing use cases and broader acceptance within the crypto ecosystem. According to a Citi report, the fourth quarter of 2024 saw market caps of the top three stablecoins—USDT, USDC, and Dai (DAI)—grow by over $25 billion.
Stablecoins are becoming critical tools for crypto transactions, enabling faster and more reliable access to funds.
Stablecoin issuance soared after Trump’s election win. Source: CitiDecentralized Finance Benefits from Stablecoin Adoption
The expansion of the stablecoin market has significant implications for decentralized finance (DeFi), where these assets serve as essential entry points. DeFi users increasingly rely on stablecoins to access protocols and reduce volatility risks.
One standout performer is Ethena’s USDe, which surpassed a $6 billion market cap in December 2024, overtaking Dai. Analysts attribute this growth to USDe’s staking yields, which ranged from 4.3% to 55.9% throughout the year, as reported by Messari.
Agora’s AUSD stablecoin aims to tap into this trend by offering features tailored to DeFi, including efficient contract execution and collateralized backing.
Agora’s Focus on Institutional Stablecoin Market
Agora is positioning the AUSD stablecoin as a key player in the institutional crypto market. Its reserves are managed by a globally recognized asset manager, with regular audits ensuring transparency and trust.
“As U.S. regulations around digital assets take shape, we aim to position AUSD as a cornerstone of the institutional stablecoin market,”
Agora said in its statement.
By prioritizing compliance and functionality, Agora aims to provide traders and developers with reliable tools for crypto transactions. The competition among stablecoins is growing, and AUSD’s entry adds to the evolving landscape of the stablecoin market.
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