Antony Parsons
Usual, a rapidly-growing decentralized stablecoin startup, has secured $10 million in Series A funding led by Binance and Kraken. The investment round will help Usual further develop its community-focused, yield-bearing USD0 token, which has grown to become the #9 stablecoin by market cap.
About Usual
Usual was launched out of stealth in early 2024 by Pierre Person, a former vice president of the French presidential political party that spearheaded France’s crypto asset legislation and a former member of the French Parliament. The company’s USD0 stablecoin is backed 1:1 by real-world assets, primarily U.S. Treasurys.
Unique Features of Usual’s USD0 Stablecoin
Usual’s USD0 stablecoin offers an 80% annualized yield, allowing users to stake their holdings for up to four years to earn rewards in USUAL. Unlike other stablecoins, USD0 directs profits to its users, rather than its issuer. The protocol is designed to reward holders with real yields generated by the reserve holdings, setting it apart from other stablecoins.
Transparent and Equitable Value Distribution
Existing stablecoin models have been criticized for lacking transparency and equitable value distribution, privatizing their gains and socializing their losses. Usual aims to change this dynamic by ensuring value circulates within the community, not just among a few. Every dollar in the system builds real, shared rewards, with 90% of value going back to users.
Rapid Growth and Milestones
Usual’s USD0 stablecoin has crossed the $1 billion market capitalization milestone and is on its way to $1.5 billion in a matter of days. It is the seventh-largest stablecoin by market cap and the sixth most-traded by volume.
Partnerships and Backers
M^0, an onchain stablecoin infrastructure firm, has inked a deal with Usual to help expand its backing assets and has joined as a backer. Other backers of Usual include Ethena, the synthetic dollar platform; Ondo, the firm specializing in real-world assets; and Echo, a decentralized crowdfunding platform founded by crypto luminary Jordan Fish (widely known as Cobie), along with several other notable investors.
Conclusion
Usual’s innovative approach to stablecoins and token-based finance has attracted significant attention and investment from leading players in the industry. With its community-focused model and transparent value distribution, Usual is poised to disrupt the traditional stablecoin market and create a new paradigm for decentralized finance.
