Stablecoins
Enhancing Crosschain Transactions with AUSD Stablecoin on AggLayer
Monday. November 11 at 7:00 PM
1 min. readAgora, a stablecoin company, has introduced its AUSD stablecoin as the native currency for Polygon’s AggLayer, a crosschain settlement network, to facilitate multichain transactions using a stable, fiat-backed asset. This partnership aims to streamline liquidity for developers and end-users in the AggLayer community by eliminating the need for token bridges. Agora, co-founded by Nick van Eck, Drake Evans, and Joe McGrady, has institutional-grade stablecoin AUSD backed by custodians like State Street and VanEck. The integration of AUSD on AggLayer as the native stablecoin offers reduced transaction costs and smoother crosschain interactions. Developers can now access AUSD without additional fees or bridging processes, enhancing efficiency. AUSD also provides a reliable store of value and payment method for decentralized applications on the AggLayer, promoting a more egalitarian economic network where income is shared among network participants. The recent partnership with Fabric Cryptography to introduce zero-knowledge proofs further enhances security and reduces costs for developers and end-users on the AggLayer.