The price of USUAL, the governance token supporting the Usual protocol, has surged by 31%, from $1.05 to $1.38, following Binance Labs' announcement of its investment in the project.

The market capitalization of USUAL has surpassed $652 million just over a month since its launch. In the past 24 hours, approximately $811 million worth of tokens have been traded.

USUAL price chart 4 hours | Source: TradingView

On Monday, the Usual protocol announced the completion of a $10 million Series A funding round, co-led by Binance Labs and Kraken Ventures, along with participation from other major investors in the crypto space. This investment aims to support Usual's mission to reshape the stablecoin market and promote decentralized finance (DeFi) solutions.

Alex Odagiu, Investment Director at Binance Labs, stated:

“Stablecoins have long served as a bridge for new users entering the crypto ecosystem. Usual's community-centric approach sets a new standard for inclusivity and empowerment.”

CEO of Usual Labs Pierre Person shared:

“In the coming months, Binance Labs and Usual Labs will continue to collaborate to ensure that the stablecoin market not only leads in innovation but also becomes increasingly connected with the community.”

The Usual protocol, launched in mid-November, is the 61st project on Binance Launchpool, where users can earn USUAL tokens by staking BNB or FDUSD. The total reward pool for this initiative is 300 million USUAL tokens, accounting for 7.5% of the total supply.

The goal of this protocol is to develop a decentralized stablecoin backed by real-world assets (RWA), while promoting transparency and community governance through the USUAL token. USUAL holders will have the right to participate in decisions related to the operation of the protocol and revenue distribution.

The USUAL token also plays a crucial role in promoting the adoption and use of USD0, the stablecoin issued by the Usual protocol. Backed 1:1 by RWAs like U.S. Treasury, USD0 provides stability and security, and can be used in transactions, transfers, and as collateral in the protocol.

The announcement of the investment from Binance Labs came after Usual announced a strategic partnership with Ethena and Securitize, the tokenization company for BlackRock's BUIDL fund. This collaboration will allow USDtb and BUIDL to become collateral for USD0, integrating traditional financial stability into the innovation of decentralized finance.

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