Agora and Galaxy Execute First OTC Transaction of AUSD Stablecoin

NEW YORK, Jan. 8, 2025 /PRNewswire/ -- Agora is pleased to announce that it has executed the first over-the-counter ("OTC") transaction of Agora's USD stablecoin (AUSD) with Galaxy, a digital asset and blockchain leader providing access to the growing digital economy. This significant milestone underscores the growing demand for secure and reliable digital dollar solutions in an evolving digital asset market.

AUSD is a fully backed stablecoin with collateral managed by one of the world's largest asset managers, reserves regularly audited by leading accountants, and assets custodied with one of the largest and oldest custodians globally. With its focus on transparency and builder-focused infrastructure, AUSD is designed to exemplify the future of regulated digital dollars—secure, scalable, and compliant.

"We are thrilled to partner with Galaxy on this landmark transaction," said Nick Van Eck, CEO and Co-Founder of Agora. "This trade marks the transition of AUSD from proof of concept to real-world application, showcasing its potential to capture market share in the maturing digital economy. As U.S. regulations around digital assets take shape, we are committed to meeting these standards and positioning AUSD as a cornerstone of the institutional stablecoin market."

"Facilitating Agora's first OTC transaction aligns with our mission to drive innovation and adoption in the digital asset space," said Jason Urban, Global Head of Trading at Galaxy. "We look forward to continuing our collaboration as Agora leads the way in bringing a compliant and transparent stablecoin to the global financial system."

As a portfolio company of Galaxy Ventures, Agora benefits from access to capital markets expertise, technical insights, and strategic guidance through Galaxy's diversified services. This partnership supports the shared commitment of both companies to fostering a more secure and regulated digital asset ecosystem.

This OTC transaction represents the first step in Agora's mission to scale AUSD and establish it as a leading stablecoin, advancing a compliant digital economy while creating new financial opportunities in underserved markets.

For more information about Agora and AUSD, please visit Agora's Website.

About Agora

Agora is a stablecoin infrastructure and operations provider. Agora's first product, AUSD, is a digital dollar minted 1:1 with USD fiat. AUSD is designed to be a secure digital currency, utilizing one of the world's largest custodian banks to safeguard assets. AUSD enables users to participate in trading, lending and payments. It is the most cost-efficient stablecoin to transact with due to its gas-optimized smart contract, making it ideal for traders and payments.

About Galaxy

Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing access to the growing digital economy. We serve a diversified client base, including institutions, startups, and qualified individuals. Since 2018, Galaxy has been building a holistic financial platform spanning three complementary operating businesses: Global Markets, Asset Management, and Digital Infrastructure Solutions. Our offerings include, amongst others, trading, lending, strategic advisory services, investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology. The company is headquartered in New York City, with global offices across North America, Europe, and Asia.

Additional information about Galaxy's businesses and products is available on www.galaxy.com 

SOURCE Agora