Agora, a pioneering stablecoin company co-founded by industry veterans Nick van Eck, Drake Evans, and Joe McGrady, has launched its revolutionary AUSD stablecoin on the Sui Network. This move marks a major development for both Agora and Sui, enriching the stablecoin ecosystem within the network.
Gap Kim, Global Head of Marketing for Sui Foundation, shared the enthusiasm surrounding this integration, noting that “Sui’s embrace of assets like AUSD provides developers with valuable resources and expands DeFi opportunities for institutional users. This partnership is poised to drive innovation and foster financial inclusion in the Sui community.”
The successful deployment of AUSD on Ethereum and Avalanche has paved the way for its expansion on the Sui Network. Since its launch on these networks a few weeks ago, AUSD has demonstrated impressive growth, with substantial minting and trading activity. This integration has already begun boosting liquidity and market efficiency within Sui’s thriving DeFi ecosystem, boasting a Total Value Locked (TVL) exceeding $600 million.
Nick van Eck, Co-Founder of Agora, highlighted the transformative potential of AUSD’s collaboration with Sui, affirming that “leveraging Sui’s cutting-edge infrastructure and scalability will propel advancements in DeFi and Payments. This partnership aligns with our vision of forging a more inclusive financial future.”
AUSD’s emergence on Sui complements the network’s expanding array of stablecoins, nurturing the growth of robust DeFi applications and driving blockchain adoption. By harnessing Sui’s high-performance network, stablecoins like AUSD empower developers to concentrate on innovation and deliver exceptional user experiences free from technical limitations.
The integration of AUSD with Sui underscores the ongoing expansion of the stablecoin network and its influence on the broader blockchain sphere. This collaboration signals a stride towards a more accessible and inclusive financial ecosystem, benefiting users and developers alike.
For further information, please reach out to:
Sui Foundation
[email protected]
