“Can a stablecoin issuer win by sharing reserve yield with partners and wrapping the whole stack in a US federal trust charter?”
Founded in 2024 by Nick van Eck, Drake Evans, and Joe McGrady, Agora issues AUSD — a fully reserved dollar stablecoin — through its Bermuda-regulated entity Agora Bermuda Limited under a BMA Class F digital asset license. The core thesis is that stablecoin issuers should share reserve economics with the partners who build with them, rather than retain the full float yield. Two years in, Agora filed for an OCC National Trust Bank charter (Agora National Trust Bank) to bring its stablecoin infrastructure under a federal charter and expand its product roadmap onshore in the US.
Agora Finance discloses Agora Bermuda Limited (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Agora Finance has applied for a national trust bank charter for Agora National Trust Bank with the OCC. Status: conditional approval (2026-09-18). Until then its banking services run through Agora Bermuda Limited (in-house).
Agora Finance processes payments through AUSD stablecoin rails (self-operated).
Agora Finance's crypto products run on Agora (in-house).
The Embedded Finance Index 2026 maps 4 layers in Agora Finance's stack: Payments / PSP (AUSD stablecoin rails (self-operated)); Banking / BaaS (Agora Bermuda Limited (in-house)); Crypto (Agora (in-house)); Treasury (AUSD Rewards (in-house), Short-term US Treasuries, Overnight repo and Cash and liquid assets).
Agora Finance was founded by Nick van Eck, Drake Evans and Joe McGrady and is founded in 2024, headquartered in Jersey City, New Jersey, United States.
Agora Finance has raised $62M in total.
Get a read on where your own stack stands against Agora Finance and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.