Comparison · 2026 edition
Agora (AUSD) vs Paxos: stablecoin issuers compared 2026.
Agora (AUSD) and Paxos side by side in the Stablecoin Issuers Index 2026: scores, evidence, published facts and awards.
WhatsApp and Telegram +44 7563 115980
[email protected]
Agora (AUSD) and Paxos side by side in the Stablecoin Issuers Index 2026: scores, evidence, published facts and awards.
In the Stablecoin Issuers Index, Paxos scores higher overall: 3.6 out of 5 (73 out of 100) against 3.3 (66), ranking 2 and 4 of 11. Paxos also scores higher in every segment.
Overall and segment scores out of 100, and the score out of 5.
| Score | Agora (AUSD) | Paxos |
|---|---|---|
| Score out of 5 | 3.3 | 3.6 |
| Score out of 100 | 66 | 73 |
| Overall rank | 4 of 11 | 2 of 11 |
| For payment and e-money firms (out of 100) | 65, rank 5 | 75, rank 2 |
| For exchanges and brokers (out of 100) | 68, rank 4 | 72, rank 3 |
| For corporate treasuries (out of 100) | 66, rank 5 | 73, rank 2 |
| Type | Dollar stablecoin issuer | Dollar stablecoin issuer |
Each score with the evidence behind it.
| Criterion | Agora (AUSD) | Paxos |
|---|---|---|
| Reserves | 3/5 Monthly management reports on reserve holdings; custodians not named. | 3/5 Monthly reserve composition reports; custodian banks not named on the pages read. |
| Independent assurance | 4/5 Monthly attestations by Grant Thornton LLP. | 4/5 Monthly attestations by KPMG LLP for USDG and USDP; audited financial statements not read. |
| Regulatory standing | 3/5 Bermuda Class F licence; US charter at preliminary conditional approval only. | 4/5 Regulated issuers in the US (OCC), Singapore (MAS), the EU (FIN-FSA under MiCA) and the UAE; licence numbers not on the pages read. |
| Redemption | 3/5 Direct minting and redemption by API; no timing or minimum. | 4/5 Direct redemption with a stated minimum basis; processing time not published. |
| Published fees | 3/5 No minting or redemption fees stated on the homepage rather than a fee page. | 4/5 No redemption fee and the dormant account charge published in the terms; purchase fees shown only at order. |
| Currencies and networks | 4/5 Ten networks and one currency. | 3/5 Seven named networks for USDG; one currency. |
Each criterion is scored 0 to 5 against the best published offer in the Stablecoin Issuers Index. 0 means not offered or not published. How it is scored
What each provider publishes on its own pages, read on 26 October 2026.
| Fact | Agora (AUSD) | Paxos |
|---|---|---|
| Reserves | Agora publishes "monthly management reports on AUSD reserves" on dollar and reserve asset holdings, from July 2024. Custodians not named on the pages read. | USDG page: "Monthly reserve reports". USDP page: "Paxos self-reports its portfolio composition 5 business days after month's end; these reports have not been subjected to independent review." Stablecoin terms: reserves held as cash at financial institutions licensed in Singapore by MAS or overseas, or short-term US dollar debt instruments. |
| Independent assurance | "Monthly reports of Agora's reserves provided by third-party accounting firm, Grant Thornton LLP and prepared according to attestation standards established by the American Institute of Certified Public Accountants"; reports listed January to August 2026. | USDG: "Attestation reports posted on or after February 27, 2026 are issued by KPMG LLP" under ISCA standards; earlier reports by Enrome LLP. USDP: KPMG LLP from 28 February 2025 under AICPA standards; earlier reports by WithumSmith+Brown. |
| Regulatory standing | "AUSD is issued by Agora Bermuda Limited which is regulated and licensed by the Bermuda Monetary Authority", holding "a Class F license to issue, sell or redeem virtual coins". Homepage: "Agora received preliminary conditional approval from the OCC." | USDG "is issued by Paxos Digital Singapore, which is a Major Payments Institution supervised by the Monetary Authority of Singapore" and "also issued by Paxos Issuance Europe under the supervision of FIN FSA and in compliance with MiCA". NYDFS trust charter granted 2015, converted in 2025 to an OCC charter as Paxos Trust Company, N.A. "Paxos is authorized to issue stablecoins in the US, UAE, Singapore and EU." |
| Redemption | "Programmatically mint, redeem, and transfer stablecoins" through Agora's API. No redemption time or minimum published. | Stablecoin terms: redemption needs a Paxos account; requests are processed "according to the redemption schedule" after compliance checks; Paxos "may require a minimum amount for redemption ... equal to the minimum wire fee charged by your bank". |
| Published fees | Homepage: "Move between AUSD and currencies with no minting or redemption fees." No fee page. | Stablecoin terms: "Paxos will not charge you fees for redeeming USD Stablecoins." Purchase shows "the commission or fee (if any)"; a monthly charge of "US $2.00" applies to dormant accounts with a balance and no activity for twelve months. |
| Currencies and networks | Mainnet deployments: Arbitrum, Avalanche C-chain, Base, Ethereum, Immutable, Katana, Mantle, Monad, Polygon PoS and Solana. One currency: US dollar. | USDG "is issued on Arbitrum, Ethereum, Ink, Mantle, Robinhood Chain, Solana, X Layer". One currency: US dollar (USDG, USDP, PYUSD). |
| Date read | 26 October 2026 | 26 October 2026 |
Not published or not stated by Agora (AUSD): reserves, redemption and published fees.
Not published or not stated by Paxos: reserves, regulatory standing, redemption and published fees.
Facts read on 26 October 2026 from: agora.finance, docs.agora.finance/developer/transparency, docs.agora.finance/developer/…; and paxos.com/usdg, paxos.com/usdg-transparency, paxos.com/usdp-transparency, paxos.com/stablecoin-terms-conditions, docs.paxos.com/stablecoin/usdg.
Awards follow from the published scores and cannot be bought.
No award in this index.
From each provider's strongest criteria and published terms.
Fintechs and platforms wanting fee-free minting and a share of reserve income.
Payment firms wanting free redemption and a Big Four attestation.
Tell us what you need and where you operate.