The decentralized stablecoin protocol Usual announced on Monday the completion of a $10 million Series A funding round led by Binance Labs and Kraken Ventures, with participants including synthetic dollar platform Ethena, real asset tokenization company Ondo, Galaxy, OKX Ventures, and Coinbase Ventures.
Source: Usual
On-chain stablecoin infrastructure company M^0 also participated in this investment, which reached an agreement with Usual last week to help expand its supported assets.
The Usual USD (USD0) issued by Usual is a stablecoin fully backed 1:1 by real-world assets (RWA) and fully compliant, with a market cap reaching $1.46 billion. According to DefiLlama data, USD0 is currently the sixth-largest stablecoin by market cap.
Usual has issued the governance token USUAL, which has increased by about 27% in the past 24 hours, with a trading price of $1.33 before the deadline.
Related articles: (What is the new project Usual on Binance Launchpool? Understanding the stablecoin protocol combined with RWA)
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