Agora's Nick van Eck bets on stablecoin boom in enterprise payments

Core Insights - Agora, a startup founded by Nick van Eck, is targeting the stablecoin market beyond crypto-native trading, focusing on stablecoin-powered enterprise payments [1][2] - The total value locked (TVL) in Agora's decentralized finance (DeFi) initiatives grew by 60% last month, indicating strong growth in this sector [1] - Agora issues AUSD, a U.S. dollar-backed stablecoin, and provides stablecoin-as-a-service for crypto projects, although van Eck advises that this service is only suitable for closed-loop ecosystems [2] Industry Trends - The adoption of stablecoins by traditional firms is expected to be slow due to infrastructure challenges, lack of internal policies, and educational gaps [2] - The potential for cost savings in cross-border payments is significant, with a 1% revenue saving translating to a 5% increase in EBITDA for companies [2] - Major firms are predicted to consolidate activity into a few dominant chains, as they leverage their resources and distribution capabilities [3] Company Ambitions - Agora aims to become one of the top five global stablecoin issuers by developing user-friendly tools for businesses [3] - The company recognizes that traditional firms prefer solutions that resemble bank accounts but offer enhanced features [4]