Binance, Kraken Lead Usual’s $10M Funding

Usual, a decentralized real-world asset (RWA)-backed stablecoin issuer, announced it has raised $10 million in a Series A funding round led by Binance Labs and Kraken Ventures. The funding, revealed via X on December 23, included contributions from prominent venture capital firms such as Galaxy Digital, OKX Ventures, Wintermute, and Amber Group.

The funds will fuel Usual’s mission to redefine stablecoins with its community-first approach and shared rewards model, targeting broader adoption in the decentralized finance (DeFi) and RWA markets.

Strategic Partnerships Propel Growth

Usual’s funding milestone follows its December 18 announcement of a strategic alliance with Ethena Labs and Securitize, the tokenization platform for BlackRock’s BUIDL fund. This partnership aims to enhance liquidity, yield, and composability within the DeFi ecosystem, creating new opportunities for decentralized finance users.

Binance Labs, in a blog post, highlighted Usual’s potential to reshape the DeFi ecosystem through its innovative stablecoin model. Binance Labs has consistently backed emerging projects in the crypto space, including Solana-based Perena, multi-asset liquidity platform Astherus, and Bitcoin liquid staking project Lombard.

Usual’s Vision for Stablecoin Innovation

Usual leverages its USUAL token to distribute value and ownership, setting itself apart as a decentralized, fiat-backed stablecoin issuer. The platform’s collaboration with Binance Labs underscores its ambition to redefine the role of stablecoins in the evolving DeFi landscape.

Usual CEO Pierre Person expressed plans to deepen collaboration with Binance Labs, aiming to build upon the project’s community-driven approach and expand its ecosystem. Binance, the first exchange to support USUAL in November, continues to play a pivotal role in the token’s integration and adoption.

A Bright Future for Usual

The $10 million funding and strategic partnerships position Usual as a key player in the DeFi and stablecoin sectors. With backing from industry heavyweights and a focus on RWA-backed assets, Usual is poised to drive innovation and growth in decentralized finance.

As DeFi continues to evolve, Usual’s emphasis on liquidity, composability, and community-driven rewards may pave the way for a new era of stablecoins, bridging the gap between traditional finance and blockchain technology.