Agora, a platform for issuing and managing stablecoins, has raised $50 million in a Series A funding round led by top crypto venture firm Paradigm, with additional participation from Dragonfly Capital.
The fresh capital will be used to accelerate the development of Agora’s all-in-one stablecoin infrastructure, as well as to launch a white-label product that allows businesses to create branded stablecoins without dealing with the technical backend.
“This milestone enables us to accelerate the development of Agora’s full-stack platform for stablecoin infrastructure, purpose-built to support the next generation of digital finance applications,” the company shared on X.
U.S. Regulatory Momentum Boosts Stablecoin Industry
The funding comes at a pivotal time, as U.S. lawmakers recently passed the GENIUS Act, laying out a legal framework for the issuance and trading of stablecoins. This move could unlock broader adoption across the country.
Agora was co-founded by Nick van Eck, son of prominent fund manager Jan van Eck, alongside crypto veterans Drake Evans and Joe McGrady.
Back in April 2024, Agora raised $12 million in seed funding. Its native stablecoin, AUSD, is already live on multiple major blockchains including Ethereum, Solana, Polygon, Avalanche, and Arbitrum. Though AUSD hasn’t yet launched in the U.S., it has gained traction internationally.
Major clients include Nonco, Flowdesk, VanEck, Conduit, and Plume Network. Backed by cash, U.S. Treasury bills, and repurchase agreements, AUSD aims to provide a reliable, programmable digital dollar for developers and institutions.
Stablecoins: The Future of Digital Payments?
Interest in stablecoins is surging, especially from financial giants like Visa, Mastercard, Stripe, and PayPal. Stablecoins are increasingly seen as essential tools for blockchain-based payments and settlements.
Ripple CEO Brad Garlinghouse recently predicted that the stablecoin market could grow from today’s $250 billion to $1–2 trillion within just a few years.
Major corporations like Amazon and Walmart are also reportedly exploring stablecoin payment solutions. In fact, stablecoin transaction volumes briefly surpassed Visa’s in 2024, according to industry reports.
Frank Combay of Next Generation commented that regulatory clarity—such as the MiCA framework in Europe—has removed the biggest roadblock for stablecoin adoption. He believes stablecoin ecosystems could cut transaction costs by over 90%, making them an increasingly attractive solution for both consumers and businesses.
