Binance Labs and Kraken Ventures led the $10 million Series A funding round for Usual, a decentralized, fiat-backed issuer of real-world asset stablecoins.
Usual, the RWA-backed stablecoin issuer that uses its USUAL token to distribute value and ownership, announced the fundraising on December 23rd via X.
The protocol said it secured $10 million in the Series A round led by Binance and Kraken’s venture capital divisions Binance Labs and Kraken Ventures. Usual’s fundraising also saw participation from other major VC platforms across the ecosystem, including Galaxy Digital, OKX Ventures, Wintermute, and Amber Group.
This milestone was reached by Usual as part of another important development.
On December 18, the stablecoin issuer announced that it had entered into a strategic alliance with Ethena Labs and Securitize, the tokenization platform for BlackRock’s BUIDL fund. The partnership targets the expanding decentralized finance market by offering users the benefits of combined liquidity, yield and composability.
Usual collaboration between Labs and Binance Labs
Binance Labs said in a blog post that it invested in Usual to help transform the DeFi ecosystem through Usual’s community-first approach. The project, which features a shared reward model, aims to use capital injection to redefine stablecoins as part of broader DeFi and RWA adoption.
“At Binance Labs, we look for projects that drive meaningful innovation and expand the ecosystem, and we are excited to support Usual’s mission to expand the boundaries of what stablecoins can achieve,” said Alex Odagiu, investment director at Binance Labs, in an explanation.
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