Usual Secures $10M in Series A Funding Round Led by Kraken Ventures and Binance Labs

Usual Raises $10M in Series A Round Led by Kraken Ventures and Binance Labs

In a major milestone, Usual has secured a whopping $10 million in Series A funding round led by prominent investors, Kraken Ventures, and Binance Labs. This significant development marks a new chapter for the innovative decentralized stablecoin issuer.

As part of this financing round, notable venture capital firms have joined forces with Usual, solidifying its position as a pioneering force in the rapidly evolving stablecoin landscape. The impressive list of backers includes Galaxy Ventures, Guy from Etherscan, Adli Takkal Bataille, DEO and Co-Founder of Usual Lab, and other prominent players.

Usual’s innovative approach has garnered widespread attention, with its commitment to value redistribution and ownership through the $USUAL token resonating deeply with industry stakeholders. This novel model has enabled the platform to build a robust community that is now poised for accelerated growth.

The funds secured will be strategically allocated towards expanding Usual’s influence from DeFi (Decentralized Finance) into CeFi (Centralized Finance), thus blurring the lines between these traditionally distinct spaces. This bold move aims to unlock unprecedented opportunities for users and foster deeper integration with the global financial system.

“We are proud to announce this funding round, which cements Usual as one of the most promising projects of 2024 in both the stablecoin and DeFi ecosystems,” emphasized a spokesperson from Usual’s team.

The company’s commitment to decentralized and secure issuance of fiat-backed stablecoins has been met with enthusiasm by market participants. This fresh injection of capital will allow Usual to push the boundaries of innovation, fostering a more inclusive and user-centric financial landscape.

“Over the past five months, Usual has demonstrated its robustness through an innovative model of value redistribution,” added another representative from the organization. “We’re bringing fiat-backed stablecoins into the DeFi era, and this next phase will accelerate this transformation, creating uncharted opportunities for users.”

Usual’s vision is centered around democratizing access to secure and transparent financial services, which aligns with its mission to empower the masses through decentralized finance.

As the company embarks on this ambitious new chapter, it’s evident that Usual’s commitment to innovation and user-centricity will continue to set the tone for future developments.

Source: coinpedia.org