PANews reported on October 31 that Injective Labs announced the launch of its first native stablecoin on the Injective blockchain - AUSD, a fully collateralized USD stablecoin launched by Agora. AUSD is supported by VanEck and hosted by State Street, and is backed by high-quality US Treasury bonds and overnight repurchase agreements, providing users with stable trading options.
Nick van Eck, co-founder and CEO of Agora, said that since its inception, the Injective ecosystem has processed more than $40 billion in USD-denominated stablecoin transactions, with superior infrastructure, low fees and fast transaction confirmation, providing an ideal issuance environment for Agora. Currently, the circulating supply of AUSD has reached $65 million, with a daily trading volume of over $15 million, and plans to further integrate it into Injective's core applications such as DEX, staking and lending protocols.
