Injective (INJ) launches stablecoin AUSD

Bloomingbit Newsroom

Summary

Injective Protocol (INJ) announced the launch of the stablecoin AUSD on the Injective blockchain.
It was reported that AUSD is backed by global asset manager VanEck, with State Street providing custodial services.
CEO Eric Chen stated that AUSD is designed to provide yield to holders, drawing significant interest from investors.

The decentralized finance (DeFi) project Injective Protocol (INJ) announced the launch of the stablecoin AUSD.

On the 31st, Injective announced on its official blog that AUSD has been launched on the Injective blockchain. AUSD is a stablecoin issued by the cryptocurrency startup Agora. The global asset management company VanEck backs it, and the asset management company State Street is in charge of custodial services.

Eric Chen, CEO of Injective Labs, stated, "AUSD is designed to provide yield to holders," adding, "This differentiates AUSD from other stablecoins and will be a strong initiative for Injective."

Previously, Nick VanEck, the son of Jan Van Eck, CEO of VanEck, announced that he would launch a new dollar-based stablecoin.

INJ