PANews reported on January 30 that according to official news, the stablecoin AUSD is now online on the Solana network and has minted more than 20 million US dollars, deploying deep liquidity within the Solana ecosystem and further promoting the development of on-chain payments and DeFi applications.

Agora said that AUSD relies on Solana's high-performance infrastructure, with advantages such as low transaction fees, extremely fast transaction processing and near-instant settlement, providing users with a more efficient on-chain stablecoin experience.

According to reports, AUSD is backed by 1:1 US dollar reserves; the issuance of AUSD is fully supported by US dollar fiat currency reserves to ensure transparency and verifiability. State Street Bank is responsible for the cash custody and fund management of Agora Reserve Fund to ensure fund security and compliance operations.