Stablecoin issuer Agora will launch its stablecoin AUSD on Sui Chain

Agora, a stablecoin issuing company, recently announced that it will launch its stablecoin AUSD on the Sui chain, making AUSD the second stablecoin launched on Sui after FDUSD. AUSD is scheduled to be launched in June and will be supported by bank deposits, US Treasury bonds and repurchase agreements, and its reserve funds will be kept by Van Eck. In addition, Agora plans to incorporate enterprises that support AUSD into its business model and share the revenue products of stablecoin operations with them. It is reported that Agora previously announced that it will push AUSD to Ethereum, Arbitrum and Optimism. Sui is the first non-EVM blockchain issued by AUSD. (Bitcoin.com) Previously in April, Agora announced the completion of a $12 million seed round of financing, led by Dragonfly, and participated by General Catalyst and Robot Ventures.