AUSD (AUSD)

What AUSD is

AUSD is a dollar stablecoin issued by a licensed Bermuda entity and deployed across ten networks. Agora's own disclosure states that "AUSD is issued by Agora Bermuda Limited which is regulated and licensed by the Bermuda Monetary Authority to conduct digital asset business activities in and from within Bermuda," and that the company "holds a Class F license to issue, sell or redeem virtual coins, tokens or any other form of digital asset" (source: Agora, agora.finance, read September 2026).

The reserve model is the conventional one for a fiat backed stablecoin. Agora states AUSD is "1:1 with USD" and "100% backed" by short-term US Treasuries, overnight repo, and cash and liquid assets, with a monthly reserve attestation.

What Agora emphasizes as its own differentiator is where the reserve income goes. Its site says that "While most issuers keep the economics, Agora shares it with the partners who build with AUSD," and separately advertises zero minting and redemption fees.

For where to buy AUSD from your country or state, see the availability tables on this page and the venues listed at Exchanges.

How it works

The token contract is an ERC-20 with a set of extensions aimed at compliance and at gasless usage. Agora's developer documentation lists the standards it implements: ERC-20 as the base, eip 712 for typed structured data signing, ERC-1271 so smart contract wallets can validate signatures, ERC-2612 permits so approvals can be given by signature, and ERC-3009, which "Enables gasless token transfers."

On Solana the contract uses a different toolkit for the same ends. The documentation says Agora adheres "to token2022 standards, using Solana's Token Extensions (TEs)," and names the ones in use: Mint Close Authority, PermanentDelegate, described as "an address with unrestricted delegate privileges, required for regulatory purposes," TransferHook for custom logic on every transfer, Metadata, and Confidential Transfers.

Control over the contract is split across named roles rather than held by one key. The documentation describes a role-based access control system covering Admin, Pauser, Freezer, Minter and Burner permissions. That structure exists to enforce two things the documentation states plainly: minting and burning "are restricted to specific roles, ensuring that only authorized accounts can alter the total supply of tokens," and asset freezing, which it says helps "in adhering to regulatory requirements by enabling the freezing of assets used in criminal activity."

The contract is also upgradeable. Agora frames that as an operational necessity: "The upgradeable contract design ensures that security patches and new features can be deployed without disrupting the existing ecosystem." It is a capability with a cost, covered in the risks below.

Reserve verification runs on two tracks that Agora is careful to distinguish. Monthly third-party attestations come from "Grant Thornton LLP and prepared according to attestation standards established by the American Institute of Certified Public Accountants." Separately, Agora publishes its own management reports on the dollar and reserve assets, and the documentation notes these "are distinct from the third-party attestations above." The documentation's index lists third-party reports running through July 2026 and Agora management reports back to July 2024.

Supply and tokenomics

AUSD has no fixed supply. Tokens are minted when reserves are received and burned on redemption, so the outstanding amount tracks demand.

The same contract address appears on every EVM network Agora supports, which simplifies integration and address verification.

Agora publishes usage metrics on its own site, which it reports as $84 billion in total transfer volume, $11 billion in the second quarter of 2026, 36 million lifetime transfers and 38,000 unique addresses. These are the issuer's own figures rather than independently measured ones, and should be read that way.

Agora also advertises a reward rate paid to holders, describing an "Open reward model" that shares reserve economics with partners. The site's own footnote dates its published rate to 17 August 2026 and states that terms and conditions apply, so any specific rate is a dated marketing figure rather than a fixed property of the token.

History

AUSD sits in the category of stablecoins built for business payments rather than for exchange trading, which shows in what Agora built around it. Alongside the token there is an API for minting, redeeming and transferring programmatically, and the site describes settlement in seconds rather than days.

The regulatory route was Bermuda's Digital Asset Business Act, which provides the Class F licence the disclosure names. That choice put the issuer under a single named regulator from the start, with the monthly Grant Thornton attestation as the recurring public evidence.

The multi-chain deployment strategy is unusually uniform. Rather than issue a native token on one chain and bridge it elsewhere, Agora deploys the same contract address across every supported EVM network and maintains a separate native Solana mint, with the documentation listing bridge contracts only for a subset. The list of networks, which now includes Monad and Katana alongside Ethereum, Base and Polygon, has grown by deployment rather than by wrapping.

Risks and what to watch

Issuer risk is the base case. AUSD is a claim on Agora Bermuda Limited and the reserves it holds, not on a blockchain protocol. A monthly attestation is a point-in-time verification by an accounting firm, not a continuous audit and not insurance.

The Solana deployment's PermanentDelegate extension gives an address "unrestricted delegate privileges," which the documentation says is "required for regulatory purposes." That is a stronger power than the EVM freezer role and applies to tokens held on that chain.

Upgradeability means the contract you audit today can behave differently tomorrow. The role-based access control system is the mitigation, and the security of the token therefore depends on the key management behind the Admin role.

Reserve composition carries ordinary money-market risk. Short-term Treasuries and overnight repo are conservative instruments, but they are not cash in a vault, and redemption at par under stress depends on liquidating them at par.

Multi-chain deployment multiplies surface area. Nine EVM networks plus Solana means nine sets of contracts, several bridge contracts, and the operational security of each chain.

Frequently asked questions

Who issues AUSD?

Agora Bermuda Limited, which its disclosure says is regulated and licensed by the Bermuda Monetary Authority and holds a Class F licence to issue, sell or redeem digital assets.

What backs AUSD?

Agora states AUSD is 1:1 with USD and 100% backed by short-term US Treasuries, overnight repo, and cash and liquid assets, with monthly third-party attestations by Grant Thornton LLP.

Can AUSD be frozen?

Yes. Agora's documentation describes a Freezer role and asset freezing to enable "the freezing of assets used in criminal activity." On Solana, a PermanentDelegate extension grants unrestricted delegate privileges for regulatory purposes.

Which networks is AUSD on?

Ethereum, Arbitrum, Avalanche C-Chain, Base, Immutable, Katana, Mantle, Monad and Polygon PoS all share the address 0x00000000eFE302BEAA2b3e6e1b18d08D69a9012a, plus a native Solana mint.

Where can you buy AUSD?

Availability depends on your country or US state. See where to buy AUSD for the exchanges serving your jurisdiction, and Exchanges to compare fees, kyc requirements and supported payment methods.