OKX Ventures, the investment arm of the cryptocurrency exchange OKX, has announced a strategic investment in USUAL, an ambitious project set to transform the stablecoin market by integrating Real-World Assets (RWA) with decentralized governance.
USUAL distinguishes itself from traditional stablecoin leaders like Tether (USDT) and Circle (USDC) by combining tokenized Treasury Bills (T-Bills) with user-governed decentralized protocols. This unique approach creates a stablecoin backed by highly reliable real-world assets, while granting users direct control over key management and governance decisions.
USUAL was born from a vision to blend traditional financial assets with the flexibility and innovation of decentralized finance (DeFi). By incorporating tokenized T-Bills into its collateral pool, USUAL has partnered with prominent financial institutions like BlackRock and Hashnote to create a robust and secure foundation for its stablecoin ecosystem.
Additionally, the protocol has formed alliances with leading DeFi platforms such as Curve, Pendle, Morpho, and Ether.fi, enabling USUAL to enhance liquidity strategies and optimize yields.
These partnerships have driven significant milestones, including:
USUAL has shown remarkable growth:
This rapid ascent positions USUAL as the fastest-growing fiat-backed stablecoin on Ethereum. Notably, the supply of stablecoins on Ethereum Layer 2 networks has reached $13.5 billion, emphasizing the expanding role of Layer 2 ecosystems in stablecoin adoption.
USUAL Labs recently completed a $10 million Series A funding round led by Binance Labs and Kraken Ventures, with additional backing from Galaxy Ventures, Coinbase Ventures, and OKX Ventures.
Pierre Person, CEO and co-founder of USUAL Labs, described this funding as a pivotal moment, enabling USUAL to expand from DeFi to CeFi (Centralized Finance).
“With the support of investors dedicated to reshaping the stablecoin landscape, we’re ready to unlock new opportunities,” said Person.
Adli Takkal Bataille, co-founder and DEO of USUAL Labs, highlighted the protocol’s innovative approach:
“We are bringing fiat-backed stablecoins into the DeFi era. The next phase of our journey will accelerate this transformation, creating unprecedented opportunities for users.”
USUAL stands out for its community-first approach, allocating 90% of its token supply to users. This contrasts sharply with traditional stablecoin projects, where profits are often concentrated in the hands of issuing entities.
By creating a decentralized ecosystem, USUAL empowers users to become co-owners of the protocol and directly benefit from its growth. This model not only aligns incentives but also fosters greater transparency and inclusivity within the stablecoin market.
The stablecoin sector is rapidly evolving, with new entrants vying for market share. For example:
Amid this competitive landscape, USUAL’s innovative model and strong financial backing position it as a serious contender. By integrating tokenized RWAs, decentralized governance, and strategic partnerships, USUAL is poised to redefine how stablecoins are issued, managed, and utilized.
With its groundbreaking approach, recent funding successes, and focus on community empowerment, USUAL is set to play a transformative role in the stablecoin ecosystem. The project not only challenges traditional players but also establishes a new paradigm for decentralized financial infrastructure.
As the demand for stablecoins continues to rise, 2024 could be a watershed year for USUAL, signaling the dawn of a new era in decentralized finance.
