Hassan Maishera
On Wednesday, the Wormhole team announced via a blog post that Agora, the Dragonfly-backed startup aimed at building an open, inclusive stablecoin network, selected Wormhole as a core interoperability provider for their AUSD stablecoin.
By leveraging Wormhole’s multichain capabilities and secure infrastructure that caters to the development of institutional-grade stablecoins, the integration will unify liquidity across chains and increase AUSD access and transferability.
Agora manages AUSD, a digital dollar minted 1:1 with USD fiat. AUSD is designed to be a secure digital currency, safeguarding assets by utilizing one of the world’s largest custodian banks.
By leveraging Wormhole’s NTT framework, Agora can cut liquidity fragmentation by preserving the intrinsic properties of tokens on different chains.
Wormhole is a decentralized bridge between blockchains that enables the transfer of assets and data across different blockchain networks. It aims to facilitate interoperability and expand the capabilities of blockchain technology. W is trading at $0.3028, down 1% in the last 24 hours.
