Usual Labs, a Paris, France-based company developing Usual, an innovative protocol bridging the gap between traditional and decentralized finance through the USD0 stablecoin, raised $7M in funding.
The round was led by IOSG Ventures and Kraken Ventures, as well as a diverse group of investors, including GSR, Mantle, StarkWare, Flowdesk, Avid3, Bing Ventures, Breed, Hypersphere, Kima Ventures, LBank, Psalion, Public Works, and X Ventures.
The company intends to use the funds to prepare for the pre-launch of the USD0 stablecoin on the Ethereum mainnet in Q2 2024. Usual committed $75M in Total Value Locked (TVL) to ensure its launch on time.
Founded in 2022 by Chief Executive Officer Pierre Person, Design Executive Officer Adli Takkal Bataille, polymath crypto OG, investor, writer, and DeFi entrepreneur, and Chief Operating Officer Hugo Sallé de Chou, Usual Labs is developing Usual, an innovative protocol bridging the gap between traditional and decentralized finance through the USD0 stablecoin. With its Liquid Deposit Token (LDT), the company is aiming to establish itself as a DeFi-native stablecoin.
FinSMEs
18/04/2024