Usual Secures $10M Funding to Pioneer RWA-Backed Stablecoins with Binance and Kraken
LTB Usual, a decentralized stablecoin issuer, has secured $10 million in a Series A funding round led by crypto giants Binance Labs and Kraken Ventures. This investment reflects the growing momentum in decentralized finance (DeFi) and paves the way for innovations in real-world asset (RWA)-backed stablecoins. By partnering with industry players and emphasizing community-driven models, Usual seeks to transform the stablecoin landscape.
- Usual raised $10 million, led by Binance Labs and Kraken Ventures.
- Focus on RWA-backed stablecoins.
- Partnerships with Ethena Labs and Securitize.
- Pioneering a community-driven model for stablecoins.
Usual’s innovative strategy centers on stablecoins backed by real-world assets (RWAs), a model designed to differentiate from traditional bank-backed systems. This funding round, also supported by notable crypto venture firms like Galaxy Digital, OKX Ventures, Wintermute, and Amber Group, underscores the potential of stablecoins to provide alternative financial solutions.
Strategic partnerships with Ethena Labs and Securitize aim to bolster Usual’s DeFi offerings by enhancing liquidity and asset integration. Ethena Labs focuses on collateralized lending—using assets as security for loans—while Securitize specializes in converting real-world assets into digital tokens, making them easier to trade and use. These collaborations are crucial as Usual endeavors to broaden the capabilities of stablecoins and expand its ecosystem.
Binance Labs highlights Usual’s potential to revolutionize the stablecoin market. Alex Odagiu, Investment Director at Binance Labs, remarked:
“At Binance Labs, we seek out projects that drive meaningful innovation and expand the ecosystem, and we are excited to support Usual’s mission to push the boundaries of what stablecoins can achieve.”
Usual’s flagship token, aptly named USUAL, was first listed by Binance, signaling strong support from one of the largest exchanges. Emphasizing a community-driven approach, Usual plans to allocate 90% of its tokens to the community, aiming to democratize stablecoin ownership and profit-sharing.
Pierre Person, CEO of Usual, echoed the importance of collaboration:
“In the months ahead, Binance Labs and Usual Labs will continue to collaborate to ensure that the stablecoin market remains at the forefront of innovation and becomes even more community-centric.”
As the cryptocurrency market increasingly leans on stablecoins as a bridge between traditional and digital finance, Usual’s RWA-backed stablecoins offer stability and transparency, sidestepping the risks of traditional models.
Key Questions and Answers
- Who led the $10 million funding round for Usual?
- What is Usual’s main product focus?
- What are the goals for the newly acquired funds?
- Who are Usual’s new strategic partners?
- What is Binance Labs’ interest in Usual?
Binance Labs and Kraken Ventures led the funding round for Usual.
Usual specializes in decentralized stablecoins backed by real-world assets (RWA).
The funds are intended to redefine stablecoins in the context of DeFi and RWA adoption, focusing on a community-driven model.
Ethena Labs and Securitize are new strategic partners aiming to enhance Usual’s DeFi offerings.
Binance Labs is interested in Usual’s innovative approach to reshaping DeFi and expanding the stablecoin ecosystem.
As Usual continues to scale and innovate, its RWA-backed and community-focused model could herald a transformative shift in stablecoins’ role within the financial system.
