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

According to The Defiant, stablecoin issuer Agora has received approval from the Office of the Comptroller of the Currency (OCC) to establish a U.S. trust bank, which will take over the issuance and reserve management of AUSD.

This trust bank will inherit the issuance and reserve functions of Agora's Bermuda entity, but before officially opening, it still needs to meet regulatory requirements regarding capital, liquidity, and compliance.