July 10th, according to Fortune magazine, stablecoin startup Agora has completed a $50 million Series A funding round, led by Paradigm.

Reportedly, Agora hopes to use this funding to drive the development of its native stablecoin, AUSD. AUSD is a cryptocurrency pegged to assets such as the US dollar. Agora also provides white-label services, allowing other companies to launch their own branded versions of AUSD, while benefiting from the stablecoin's interoperability and liquidity advantages.