AUSD is said to kick-start the Stablecoin 3.0 Era, offering an open stablecoin model focused on builders and businesses.
U.S. dollar stablecoin issuer Agora partnered with Mantle to deploy their native stablecoin, AUSD, on Mantle. The stablecoin is fully backed by cash, U.S. Treasury bills and overnight repo agreements, and will tap into the on-chain liquidity support from Mantle.
Agora’s native deployment brings with it the ability for traditional financial services and payment companies to operate their business on Mantle with a native stablecoin partner. Payment companies and exchanges will also be able to natively operate applications on the Mantle stack, along with future use-cases such as white-labelled stablecoins for exchanges and applications, cross-border payment companies, and in-game token economies.
AUSD is now supported on Mantle decentralised exchanges (DEXs) such as Merchant Moe, with liquidity pairs against Mantle native assets mETH, cmETH, FBTC, and other stablecoins.
“We’re thrilled to be working with the Mantle team and to be joining this vibrant ecosystem. Mantle has an exceptional suite of financial and consumer applications, with many impactful announcements on the way. This is a forward-leaning team and Mantle was the priority for AUSD’s first L2 deployment,” said Nick van Eck, CEO of Agora.
“AUSD incorporates both the best practices of and biggest lessons from older generation stablecoins, and offers a solution that addresses some of the most pernicious issues faced by stablecoins in wider adoption,” said Jordi Alexander, Chief Alchemist of Mantle. “Kudos to Agora in staying true to its Ancient Greek namesake in providing a marketplace for the free exchange of value and ideas. And we are delighted to support AUSD as a preferred digital dollar asset on Mantle.”
