Best Investment Manager Reveals Industry-Disrupting Stablecoin Launch on Sui Network
Grand Cayman, Cayman Islands, September 5th, 2024, Chainwire
After successful launches on other major networks, the leading stablecoin company, Agora, has deployed its AUSD stablecoin on Sui, tapping into the scalable, high-performance network and strengthening Sui’s stablecoin ecosystem. This move marks a significant development in the DeFi space, with AUSD being the first institutional-grade US dollar stablecoin to deploy in the Sui DeFi ecosystem.
“By integrating first-class assets like AUSD natively on the network, Sui is empowering developers and offering essential access to DeFi for a new class of institutional users,” said Gap Kim, Global Head of Marketing for Sui Foundation. The integration of AUSD on Sui has already shown promising results, with nearly $60M AUSD minted within the first six weeks of deployment on other networks and $5M+ of daily DEX volume.
According to Nick van Eck, Co-Founder of Agora, “AUSD’s remarkable growth and early success across the industry sets the stage for the next even more impactful chapter on Sui.” Leveraging Sui’s cutting-edge infrastructure and unparalleled scalability, AUSD is expected to thrive and drive significant advancements within the DeFi and Payments ecosystem.
AUSD joins a growing number of stablecoins on Sui, contributing to the development of robust DeFi applications and expanding the adoption of blockchain technology. The collaboration between Agora and Sui is a pivotal step forward in creating a more inclusive and accessible financial future for all.
Contact Sui Foundation media@sui.io