Binance Labs and Kraken Ventures invest $10M in Usual to innovate the stablecoin ecosystem with RWAs, DeFi, and community-first model.
Usual has announced the successful closure of its $10M Series A funding round. The round, led by Binance Labs and Kraken Ventures, is a major step in what the company calls a ‘Stablecoin Renaissance.’ Usual shared this important news via its official account on X.
According to the Binance Labs post, decentralized stablecoin issuer Usual has a substantial investment from Binance Labs, backed by real world assets (RWAs). The protocol’s usual stablecoin is powered by $USUAL, their governance token, making it key in the protocol. This is attached to protocol revenue model and gives it intrinsic value. This model is made for Usual to redefine the stablecoin market through a community first, innovative tokenomics, and a DeFi first design.
Many traditional stablecoin issuers act like centralized banks. They consolidate liquidity but do not redistribute value back to the users. Usual attempts to shift this by encouraging a decentralized financial model. On the other hand, 90% of $USUAL tokens go to the company’s users. With this practice, the value of the ecosystem is upheld. The shared ownership leveraged by this design provides a more equitable financial model for the community.
Usual and Binance Labs Aim to Innovate the Stablecoin Ecosystem
Usual offers RWAs tokenized as a stablecoin. This is a model that has the security of real assets and flexibility of decentralized finance (DeFi). Therefore, Usual defends users from banking dangers and gives important open doors. Some are shared rewards, shared governance rights, and sharing value among the ecosystem.
With backing from Binance Labs, Usual is set to reshape the stablecoin market. Binance Labs has a name for itself in the DeFi space for deploying its investments into innovative projects. Alex Odagiu, Investment Director at Binance Labs, also expressed his thoughts about Usual’s community-first model. He thinks it marks a new standard for inclusion and empowerment. Further, he said that it makes it easier to bring new people into the crypto space.
Usual Labs CEO Pierre Person was also excited. Binance Labs has experience and successful collaborations with these kinds of transformative projects, and Usual is aligned with its mission. Moreover, they aim to maintain the innovation and community character of the stablecoin market.
Finally, this partnership gives Usual an important role in developing the decentralized financial system and the space for stablecoins.
