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.png "Decentralized Stablecoin Protocol Usual Secures $10M Series A Funding Led by Binance Labs and Kraken Ventures")
Paris, France – December 23, 2024 – Usual, a decentralized stablecoin protocol, has successfully raised $10 million in a Series A funding round led by prominent industry players Binance Labs and Kraken Ventures. The round also saw significant participation from a diverse group of investors, including Galaxy Ventures, Guy from Ethena, Ondo, Coinbase Ventures, IOSG Ventures, OKX Ventures, Wintermute, Echo, Fasanara Digital, Symbolic Capital, Amber, GSR, Psalion, Hypersphere Ventures, Avid3, FunFair Ventures, Leadblock Partners, Phaedrus, JPEG Trading, White Loop Capital, and Krypital. This substantial investment underscores Usual's potential to disrupt the stablecoin ecosystem and solidify its position as a leader in decentralized finance (DeFi).
This funding announcement comes on the heels of several key milestones for Usual, including:
Surpassing $1.4 billion in Total Value Locked (TVL): This impressive figure demonstrates the growing confidence and adoption of Usual's platform within the DeFi community.
Ranking among the Top 5 Stablecoins: Usual's rapid ascent in the stablecoin rankings highlights its innovative approach and strong market traction.
Achieving Hypergrowth: Usual has experienced remarkable growth, becoming the fastest-growing stablecoin on Ethereum and achieving the first instance of hypergrowth for a fiat-backed stablecoin since Circle.
Usual's Vision: Redefining Stablecoins for the DeFi Era
Usual distinguishes itself through its DeFi-first philosophy and a unique model that redistributes ownership to its users. This approach marks a paradigm shift in the stablecoin landscape, combining the stability of real-world assets (RWAs) with the composability and liquidity of DeFi. Usual aims to empower users by granting them ownership within the protocol, ensuring value circulates within the community rather than being concentrated among a select few. This commitment to decentralization and community ownership sets Usual apart from centralized stablecoin issuers.
Key Features and Partnerships Driving Innovation:
- Integration with RWA Tokenization Platforms: Usual has forged strategic partnerships with RWA tokenization platforms, including Securitize (BlackRock BUIDL tokenizer), fostering the growth of USYC within its ecosystem and bridging the gap between traditional finance and DeFi.
- Adoption of M^0 Collateral Structure: Usual has embraced M^0 as an alternative collateral structure for its stablecoin, USD0, further enhancing its stability and resilience.
- Collaboration with Ethena: The synergy between Usual and Ethena has unlocked new opportunities for users beyond simple yield, driving innovation within the DeFi space.
- Community-Focused Token Launch: Usual has allocated 90% of its token supply to the community, demonstrating its commitment to decentralization and user participation. The $USUAL token is currently live on Binance’s spot market, following a successful community airdrop.
Leadership Perspectives:
Pierre Person, CEO and Co-Founder of Usual Labs: "We are thrilled to announce this funding round, which solidifies Usual's position as a leading project in both the stablecoin and DeFi ecosystems. This investment will fuel our expansion from DeFi into CeFi, supported by partners who share our vision of transforming the stablecoin landscape."
Adli Takkal Bataille, DEO and Co-Founder of Usual Lab: "Over the past five months, Usual has proven its robustness through an innovative value redistribution model. We are ushering fiat-backed stablecoins into the DeFi era, and this next phase of our journey will accelerate this transformation, creating unparalleled opportunities for our users."
About Usual:
Usual is a secure and decentralized fiat-backed stablecoin issuer that redistributes value and ownership through the $USUAL token. It offers a suite of products designed for the new era of DeFi, including:
- USD0: The ultimate fiat stablecoin, aggregating various US Treasury Bill tokens to provide a secure, bankruptcy-remote solution.
- USD0++: A liquid staked token for RWAs, offering yield and growth opportunities.
- $USUAL: The governance token powering the Usual ecosystem, rewarding active users and driving protocol growth.
Usual's mission is to build a more equitable and decentralized financial system, empowering users and fostering innovation within the DeFi community. For more information, please visit the Usual website at https://usual.money/ and follow Usual on X (formerly Twitter) at @usualmoney.
Compiled by CMO Intern team
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