Stablecoin Startup Agora Raises $50.00 Million in Series A Funding, Led by Paradigm

On July 10, Fortune magazine reported that stablecoin startup Agora announced it has raised a $50.00 million Series A funding round led by blockchain venture capital giant Paradigm. Agora was co-founded by Nick van Eck, Drake Evans, and Joe McGrady, focusing on the AUSD stablecoin and helping other companies issue their own branded stablecoins through white-label services. Agora's current AUSD market cap is $130.0 million, far lower than industry giants such as Tether and Circle, but the company says it will continue to focus on overseas markets to meet the stablecoin demand brought about by cross-border payments and local currency fluctuations. [Deep Tide TechFlow]