Dec 23, 08:16 PM

Binance and Kraken Lead $10 Million Investment in Usual's $USUAL Decentralized Stablecoin as Token Surges 15% and USDa TVL Reaches $700 Million

Usual, a decentralized stablecoin issuer, has secured $10 million in a Series A funding round led by Binance Labs and Kraken Ventures. The funding aims to support Usual's innovative approach to stablecoins, which are backed by real-world assets (RWAs). The project has attracted attention for its community-first model and aims to redefine the stablecoin landscape. In addition to Binance and Kraken, other investors include Ethena, Coinbase Ventures, Galaxy, and several others. The funding comes as Usual's token price surged by 15%, reflecting growing interest in the project. Meanwhile, Avalon Finance has also raised $10 million to enhance its Bitcoin-backed stablecoin USDa and its associated DeFi ecosystem, which currently has a total value locked (TVL) of $700 million.