Funding boost for Agora as they secure $50M Series A, speeding up development of their generic stablecoin platform
Agora, a leading provider of stablecoin infrastructure, has announced the successful completion of a $50 million Series A funding round. The round was led by Paradigm, with Dragonfly Capital also participating. This brings Agora's total capital raised to approximately $62 million.
Agora's platform is built across 13 blockchain networks, including Ethereum, Solana, Arbitrum, Avalanche, BNB Chain, Polygon, and Sui Network. This multi-chain approach allows Agora to cater to a wide range of customers and use cases.
One of Agora's key offerings is its AUSD stablecoin, which has achieved significant scale. The AUSD infrastructure has facilitated tens of billions in cumulative volume and boasts over 50,000 monthly active addresses. Agora's white-label solution leverages this existing AUSD infrastructure, making it easier for customers to issue their own branded stablecoins.
Agora has attracted a notable clientele, with institutions like VanEck, Conduit, and Flow Desk relying on its infrastructure for stablecoin operations. Other prominent customers include Paxos, Sky, Frax, and companies linked to Stripe. Partners can tap into institutional-grade custodial services, deep on-chain liquidity, and comprehensive exchange integrations through Agora's platform.
Agora's strategy is to focus on infrastructure-as-a-service rather than direct token issuance. This allows the company to capture value from multiple branded stablecoins. The platform offers a yield-sharing model, where partners launching branded stablecoins receive portions of the yield generated by underlying reserve assets.
Agora's core product, AUSD, operates with full backing by cash and short-term U.S. Treasuries held in segregated reserves administered by State Street and VanEck. This backing provides stability and confidence to users.
The stablecoin market, currently at approximately $250 billion in circulation, is projected to reach trillions of dollars once comprehensive U.S. regulatory frameworks are established. Agora plans to deepen connections between on-chain and traditional fiat infrastructure layers, positioning itself for growth in this burgeoning market.
The funding comes as stablecoin adoption accelerates across traditional finance and cryptocurrency sectors. Agora's platform offers a turnkey solution to enterprises, providing robust analytics dashboards, compliance architecture, and zero-fee minting when using USDC or USDT. The platform also provides local foreign exchange on and off-ramps.
Agora was co-founded by Nick van Eck, son of VanEck CEO Jan van Eck, alongside former Coinbase engineers Drake Evans and Joe McGrady. The company's focus on infrastructure-as-a-service has enabled it to establish itself as a key player in the stablecoin ecosystem.
With the newly raised funds, Agora aims to accelerate the development of its full-stack platform for digital finance applications. The company looks forward to continuing to serve its growing clientele and contributing to the growth of the stablecoin market.
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