Agora, a stablecoin issuance company, announced that it will launch its stablecoin AUSD on the Sui chain, making AUSD the second stablecoin to be launched on Sui after FDUSD. AUSD is planned to be launched in June and will be supported by bank deposits, US Treasury bonds, and repurchase agreements, with its reserve funds being held by VanEck. In addition, Agora plans to include businesses that support AUSD in its business model and share the revenue from stablecoin operations with them.

It is reported that Agora previously announced that it would push AUSD to Ethereum, Arbitrum, and Optimism, and Sui is the first non-EVM blockchain for AUSD issuance.