Binance Labs and Kraken Ventures Back $10M Funding Round for Stablecoin Issuer Usual

Usual, a decentralized fiat-backed stablecoin issuer, has successfully raised $10 million in a Series A funding round, led by Binance Labs and Kraken Ventures. The announcement, made on December 23 via X, revealed that the fundraising round also attracted participation from major venture capital platforms, including Galaxy Digital, OKX Ventures, Wintermute, and Amber Group.

This milestone comes shortly after Usual’s significant development in its efforts to expand the decentralized finance (DeFi) market. On December 18, Usual announced a strategic partnership with Ethena Labs and Securitize, which is the tokenization platform for BlackRock’s BUIDL fund. This collaboration aims to bring enhanced liquidity, yield, and composability to the DeFi ecosystem, positioning Usual at the forefront of DeFi and real-world assets (RWA) adoption.

Binance Labs highlighted the importance of its investment in Usual, noting that the project’s community-first approach aligns with their vision of reshaping the DeFi ecosystem. Alex Odagiu, Investment Director at Binance Labs, emphasized that Usual’s innovative model could redefine stablecoins, driving further growth in DeFi. Binance Labs has also supported several other emerging projects in recent months, such as Solana-based stablecoin infrastructure protocol Perena, multi-asset liquidity platform Astherus, and the decentralized science research and investment platform BIO Protocol.

Usual’s CEO, Pierre Person, expressed optimism about the continued collaboration with Binance Labs, aiming to push the stablecoin market towards innovation and community-centric solutions. The partnership has already shown promise, as Binance was the first platform to support the USUAL token in November 2024.

With this funding and strategic alliances, Usual is positioning itself as a key player in the evolving DeFi space, leveraging its decentralized stablecoin to offer users benefits such as enhanced liquidity and yield, while maintaining a focus on community involvement and innovation.