Stablecoin startup Agora completes $12 million seed round financing, led by Dragonfly
ChainCatcher news, according to Bloomberg, stablecoin startup Agora has completed a $12 million seed round financing, led by Dragonfly, with participation from General Catalyst and Robot Ventures. Agora will issue a stablecoin backed by cash, U.S. Treasury bonds, and overnight repurchase agreements. Kyle DaCruz, Director of Digital Asset Products at VanEck, stated that VanEck will manage Agora's reserve fund. Agora plans to sign revenue-sharing contracts with partners.
It is reported that Agora was co-founded by Nick Van Eck, son of investment management veteran Jan Van Eck, along with cryptocurrency experts Drake Evans and Joe McGrady.
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