Stablecoin startup Agora completes $50.00 million Series A funding round, led by Paradigm

On July 10, Fortune magazine reported that stablecoin startup Agora has completed a $50.00 million Series A funding round led by Paradigm.

It is reported that Agora hopes to use this funding to promote the development of its own stablecoin, AUSD. AUSD is a cryptocurrency pegged to underlying assets such as the U.S. dollar. Agora also provides white-label services, allowing other companies to launch their own branded versions of AUSD while sharing the interoperability and liquidity advantages of the stablecoin. [BlockBeats]