Usual, a stablecoin protocol, has completed a $10 million funding round led by Binance Labs and Kraken Ventures

On Monday, the decentralized stablecoin protocol Usual announced the completion of a $10 million Series A funding round led by Binance Labs and Kraken Ventures, with participants including synthetic dollar platform Ethena, real asset tokenization companies Ondo, Galaxy, OKX Ventures, and Coinbase Ventures.

On chain stablecoin infrastructure company M ^ 0 also participated in this investment, and the company reached an agreement with Usual last week to help expand its backing assets.

The Usual USD (USD0) issued by Usual is a fully compliant stablecoin backed by real assets (RWA) 1:1, with a market value of $1.46 billion. According to DefiLlama's data, USD0 is currently the sixth largest stablecoin in terms of market capitalization.

Usual The governance token USUAL has been issued and has risen by approximately 27% in the past 24 hours, with a trading price of $1.33 as of the deadline.

Related article: "What is Usual, the new project of Binance Launchpool? Understanding the stablecoin protocol combined with RWA"