Usual Labs Raises $7M for Pre-Launch of USD0 Stablecoin and Enhancements to Protocol

Usual Labs Raises $7M in Funding

Key Highlights:

• Funding Round: Usual Labs, a Paris-based company developing the Usual protocol and USD0 stablecoin, raised $7 million in funding.
• Investors: The funding round was led by IOSG Ventures and Kraken Ventures, with participation from GSR, Mantle, StarkWare, Flowdesk, Avid3, Bing Ventures, Breed, Hypersphere, Kima Ventures, LBank, Psalion, Public Works, and X Ventures.
• Pre-Launch Preparation: The funds will be used to prepare for the pre-launch of the USD0 stablecoin on the Ethereum mainnet in Q2 2024, with a commitment of $75 million in Total Value Locked (TVL) to ensure a timely launch.

Usual Labs' Target Market

• Target Market: Usual Labs aims to bridge the gap between traditional and decentralized finance through its innovative protocol and stablecoin.
• DeFi Enthusiasts: Crypto investors and users interested in decentralized finance and stablecoin solutions.
• Financial Institutions and Partners: Collaborations with financial institutions and partners interested in exploring the potential of bridging traditional and decentralized finance.

What Usual Labs Needs to Buy

• Technical Development: Resources and expertise in blockchain technology and smart contract development to further enhance the Usual protocol and stablecoin.
• Marketing and Branding: Services to promote and establish the Usual protocol and stablecoin as a leading solution in the decentralized finance space.
• Partnerships and Integrations: Collaborations with other DeFi projects, exchanges, and platforms to expand the reach and adoption of the Usual protocol and stablecoin.