Dragonfly's Leading Investment in Agora's New Stablecoin Venture
Tuesday, 2 April 2024, 17:40
Stablecoin Innovation by Agora
Agora is developing a USD-pegged stablecoin that will be backed by cash and U.S. Treasury bills. The initiative is focused on catering to non-US clients seeking a secure digital currency.
Key Features:
- USD-Pegged: Providing stability against the dollar.
- Backed Assets: Cash and U.S. Treasury bills for increased security.
- Target Market: Non-US customers looking for reliable digital currency options.
Dragonfly's investment of $12 million in Agora's stablecoin project signifies a significant vote of confidence in the potential success of this innovative initiative.
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