• 34ºc, Sunny

Agora CEO disputes Anchorage's "stablecoin security matrix" report, which ranks

Anchorage, a crypto financial services company, released a "stablecoin security matrix" report on Thursday, which has been strongly opposed by some stablecoin issuers. Among them, Nickvan Eck, founder and CEO of Agora, an issuer of the AUSD stablecoin, specifically questioned Anchorage's score. Agora is the issuer of the stablecoin, which received a very low rating in the report. Van Eck alleged that Anchorage's score was influenced by bias in its "pay-to-participate" arrangements with certain stablecoin companies, including Paxos. According to van Eck, Anchorage pulled Agora's AUSD and Circle's USDC tokens, citing "structural risk", citing a lack of regulatory oversight and poor liability management of the backing assets.