Binance Labs and Kraken Ventures Lead $10M Funding Round for Usual

Team S · 2024-12-30T16:56:03.000Z

Usual, a decentralized fiat-backed real-world assets (RWA) stablecoin issuer, has successfully raised $10 million in a Series A funding round. The round was led by Binance Labs and Kraken Ventures, with participation from other notable investors in the cryptocurrency space. Investors : In addition to Binance Labs and Kraken Ventures, the round saw participation from Galaxy Digital, OKX Ventures, Wintermute, and Amber Group. Usual's token : The company uses its USUAL token to distribute value and ownership. Strategic partnerships : Usual recently formed an alliance with Ethena Labs and Securitize, aiming to enhance liquidity, yield, and composability in the DeFi market. Binance Labs' investment rationale : The venture arm invested in Usual to help reshape the DeFi ecosystem through a community-first approach. Future collaboration : Usual Labs CEO Pierre Person indicated plans for continued collaboration with Binance Labs to drive innovation in the stablecoin market. Binance's support : The cryptocurrency exchange was the first to add support for the USUAL token in November. This funding round highlights the growing interest in RWA-backed stablecoins and community-centric approaches in the DeFi space. It also underscores Binance Labs' ongoing commitment to supporting innovative projects in the blockchain ecosystem.

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Binance Labs and Kraken Ventures Lead $10M Funding Round for Usual | Newnex