The post USUAL Token Surges 25% After Binance and Kraken’s $10M Investment appeared first on Coinpedia Fintech News
While the crypto market is taking a dip caused by recent whale sell-offs and nearly $1 billion in leveraged liquidations, the Usual token jump has surprised the crypto users. This is followed by the news that Binance and Kraken made a hefty $10M into Usual, a fiat-backed stablecoin issuer with a keen eye on real-world assets.
This major milestone has boosted the crypto community, pushing the USUAL tokens to the roof in just 24 hours moving from $1.05 to $1.21 with over 25% surge. Looks like they’re serious about bridging crypto and the tangible economy!
One more Stablecoin with “asset” backed a real deal or another pump-dump scheme? Let’s find out.
Strategic Partnerships To Bring Innovation
Usual announced a strategic partnership with Ethena Labs and Securitize, the tokenization platform behind BlackRock’s BUIDL fund. In the current political scenario, this is a strategic plan as it aims to enhance the growing DeFi market by offering users liquidity, 80% higher yields, and seamless integration.
Looking forward to the partnership, Alex Odagiu, investment director at Binance Labs, highlighted the project’s ability to boost stablecoins and expand the crypto ecosystem. This is not the only project Binance funded, Binance has raised its stablecoin investment drastically by supporting community-driven projects like Solana-based Perena and Bitcoin liquid staking platform Lombard.
CEO Pierre Person is happy with this collaboration and looks forward to expanding this partnership with Binance. He stated, “With strong support from our backers, this achievement will help Usual grow from DeFi into CeFi and transform the stablecoin market.”
Why It Matters?
This partnership is boosting the crypto’s faith in Stablecoins which was earlier went down in Gary Gensler’s rule and with his stepping down and more crypto-friendly policies lined up after Trump officially takes charge, the market will see an instant boost in the down stablecoin market.