Plume Integrates Agora’s AUSD Stablecoin for DeFi Expansion

Plume, a blockchain platform focused on real-world asset finance, has announced the integration of Agora’s U.S. dollar-backed stablecoin, AUSD. This move is aimed at unlocking decentralized finance (DeFi) benefits for users and developers within the rapidly expanding RWAfi ecosystem. The integration was announced on Monday, June 23, highlighting the partnership that brings an institutional-grade stablecoin to Plume. Agora, founded by Nick van Eck, will enhance Plume’s native stablecoin infrastructure, as stated in a blog post by the platform.

AUSD is a stablecoin fully backed by USD reserves, including short-duration U.S. Treasuries and cash. VanEck actively manages the digital asset’s backing, with State Street serving as the custodian. This integration is set to expand Plume’s DeFi ecosystem and boost Agora’s footprint in the digital dollar space, with a focus on dominating the tokenized real-world assets market.

Chris Yin, the chief executive officer and co-founder of Plume, emphasized that the next wave of stablecoin adoption will be driven by utility beyond payments, positioning Plume’s RWAfi ecosystem at the center of this transformation. The integration of AUSD on Plume and its Ethereum Virtual Machine environment bridges the gap between traditional finance and decentralized finance. This will include Nest, Plume’s protocol for institutional-grade staking and yield.

Agora’s stablecoin will also power Plume’s own stablecoin, Plume USD (PUSD). AUSD, as a reserve asset, provides reliability and trusted liquidity provision for PUSD. Nick van Eck, co-founder and CEO of Agora, noted that as the adoption of tokenized assets accelerates, users demand stablecoins that are transparent, composable, and trusted.

Plume recently launched Plume Genesis, the platform’s public mainnet, with a focus on DeFi composability for RWA. The project has partnered with several institutional giants, including Superstate, Blackstone, and Invesco. It secured strategic investments from YZi Labs in March and Apollo Funds in April. This integration with Agora’s AUSD is a significant step forward in Plume’s mission to unlock the full potential of real-world asset finance within the DeFi ecosystem.