Stablecoins redefine business payments: Agora's consolidation in the global ecosystem

Cross-border payment systems are undergoing transformation. While native cryptocurrencies continue to dominate speculative trading, a parallel movement is gaining strength in the corporate sector: the use of stablecoins for payroll, B2B transactions, and low-cost international transfers.

Agora, the platform founded by Nick van Eck (entrepreneur and son of the VanEck group), is strategically repositioning itself in this market segment. Although growth in decentralized finance remains significant—the total value locked (TVL) of the platform increased by 60% last month thanks to DeFi launches—Van Eck’s vision points toward a broader and more ambitious horizon.

Agora’s Shift: from DeFi to Enterprise Payments

The startup is not abandoning its DeFi roots but expanding its scope. The focus now centers on three pillars: automated payroll systems, B2B payments, and cross-border settlements. These are the concrete problems faced by the real economy, according to Van Eck. “We are dedicating significant time to solving these operational challenges,” he stated in recent communications.

Agora issues AUSD, a stablecoin backed 1:1 with US dollars. It also offers stablecoin minting infrastructure for other projects wishing to create their own branded tokens. However, Van Eck recognizes the limitations: “It only makes sense for closed ecosystems. Otherwise, using established stablecoins is more pragmatic.”

The Real Barriers to Corporate Adoption

The transition of traditional corporations to stablecoins will not be quick. Van Eck identifies three main obstacles: incomplete infrastructure, lack of clear regulatory frameworks, and deep educational gaps.

The contrast is revealing: “If knowledge about stablecoins in the crypto world is 100, outside that circle it’s barely 5,” the entrepreneur pointed out. This metric underscores the magnitude of the cultural and operational challenge.

The greatest opportunity does not lie in technological innovation but in capturing value. Current international payment systems are riddled with inefficiencies: pre-financing reserves, multiple intermediaries, and eroded margins. If a multinational company manages to reduce its international transaction costs by just 1%, that saving could translate into a 5% increase in its EBITDA. The first to adopt them will likely be corporations with global supplier networks.

The Dominance of Corporate Chains

Van Eck projects a radical consolidation in the blockchain landscape. Chains controlled by corporations—such as Arc (by Circle), Base (by Coinbase), and Tempo (by Stripe)—will gain ground over open-source decentralized networks. The reason is simple: these corporations bring capital, computing power, and mass distribution.

“We will see consolidation into a handful of chains,” predicted Van Eck. The convergence is almost inevitable when large tech and financial companies enter the game with unprecedented resources.

Agora’s Ambition: Positioning as a Global Issuer

In an increasingly competitive market, Agora has a clear goal: to be one of the top five stablecoin issuers worldwide. The strategy is not to chase speculators or traders but to target CFOs, corporate treasurers, and operations teams.

“Companies don’t want cryptocurrencies. They want something that feels like a bank account but better,” Van Eck reflected. This mindset shift is crucial: the product must hide its crypto nature behind an interface that institutions recognize and trust.

The race is underway. While Agora builds tools designed for treasury offices, other players are strengthening their positions. The stablecoin market for enterprise payments is still in its early stages, but signs of consolidation are already clear.