Stablecoin startup Agora receives investment from Linea.

reports that, according to crypto-fundraising data, the stablecoin startup Agora has received investment from the Ethereum Layer 2 solution Linea, with the specific amount not yet disclosed.

According to the Web3 asset data platform RootData, Agora announced in April this year that it 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.