1 min read
Agora Plans U.S. Trust Bank to Take Over AUSD Issuance and Reserves
The bank must meet capital, liquidity and compliance conditions before it can open.
Agora plans to move AUSD issuance and reserve management from its Bermuda entity to a U.S. trust bank after receiving approval from the Office of the Comptroller of the Currency (OCC).
The bank would take over issuance and reserve management from Agora’s Bermuda entity. Before opening, it must meet regulatory conditions covering capital, liquidity and compliance.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.