Agora has obtained approval from OCC and plans to transfer the issuance of AUSD to a U.S. trust bank

Stablecoin issuer Agora has received approval from the Office of the Comptroller of the Currency (OCC) in the United States and plans to establish a U.S. trust bank to take over the issuance and reserve management of AUSD.

This trust bank will assume the issuance and reserve functions previously held by Agora's Bermuda entity, but it must still meet regulatory requirements regarding capital, liquidity, and compliance before officially opening.