AUSD, issued by Agora Bermuda Limited, is a fiat-referenced stablecoin that maintains a one-to-one peg to the U.S. dollar (USD) and is represented as backed 100% by the issuer's reserves [S1][S2].

Holders of AUSD receive a digital token redeemable one-to-one against the U.S. dollar (USD), with each unit backed by the Agora Reserve Fund composed of cash, overnight repurchase and reverse-repurchase agreements, and short-term U.S. Treasury securities [S1][S3]. AUSD is price-tracking rather than yield-bearing to ordinary holders; Agora shares reserve economics with ecosystem partners on balances across their platforms rather than passing interest to all tokenholders [S3].

Agora Bermuda Limited is a Bermuda exempted company operating under a full Bermuda license [S2][S4]. The holder's claim is a contractual right personal to verified customers, with no exceptions, and the issuer does not custody customer or digital assets [S2]. Direct minting and redemption are restricted to institutions passing Know-Your-Business and Anti-Money-Laundering checks [S2][S3]. Verified customers redeem one-to-one, which Agora facilitates within 48 business hours normally and 96 business hours under stress [S2]. Reserves are segregated under Bermuda's Segregated Accounts Companies Act, protected from creditors not linked to the segregated accounts [S2].

On EVM chains AUSD implements the ERC-20 standard and supports gasless transfers via ERC-2612 and ERC-3009 [S5]. It is issued natively on Monad, Ethereum, Solana, and Avalanche, using LayerZero's OFT standard for a unified cross-chain supply [S6]. Role-based Minters create and Burners destroy tokens [S5], and reserve composition is published via Monthly Management Reports [S3].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://www.agora.finance/" },
    { id: "S2", url: "https://static.agora.finance/termsofuse.pdf" },
    { id: "S3", url: "https://www.agora.finance/product/ausd" },
    { id: "S4", url: "https://www.agora.finance/blog/occ-national-trust-bank-charter" },
    { id: "S5", url: "https://docs.agora.finance/contract-overview" },
    { id: "S6", url: "https://www.agora.finance/blog/ausd-now-borderless-onchain" },
  ]}
/>


Unique addresses that sent the asset via agentic payments (x402 protocol) over a rolling 7-day window.

Asset senders (weekly, Agentic)

Stablecoins

Users deposit funds into Agora and receive AUSD at a 1:1 rate.

Agora is a financial technology company that is the principal architect of AUSD - a full-reserve fiat stablecoin that brings the US dollar onchain.

Agora is a private company registered in the US. Agora was founded by Nick van Eck, Drake Evans, and Joe McGrady and launched in 2024.

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Stablecoin issuers

Agora

Agora Dollar (AUSD) is a U.S. dollar stablecoin issued by Agora through Agora Bermuda Limited.

Each token is redeemable one-for-one for U.S. dollars and is a direct claim on the issuer.

Reserves are held in Treasury bills, repurchase agreements, and cash, in segregated accounts within a bankruptcy-remote structure.

They sit with State Street, attested monthly by Grant Thornton LLP.

Holders can mint and redeem directly with Agora in USD after completing KYC, and holders have a contractual right to redeem at par.

Agora Bermuda Limited is incorporated in Bermuda, is licensed under the Bermuda Digital Asset Business Act, and is supervised by the Bermuda Monetary Authority (BMA).

Holder terms are governed by the law of Bermuda.

AUSD has been issued on public blockchains since July 2024 and is native to 12 networks, including Ethereum, Avalanche, Sui, Solana, Polygon, and Immutable zkEVM.

Agora DollarAUSD