The cryptocurrency market has recently experienced a downturn, primarily due to significant whale sell-offs and nearly $1 billion in leveraged liquidations. Amidst this turbulence, the Usual token has unexpectedly surged, capturing the attention of crypto enthusiasts worldwide. This remarkable rise can be attributed to the news that Binance and Kraken have invested a substantial $10 million into Usual, a fiat-backed stablecoin issuer with a strong focus on real-world assets. This significant milestone has invigorated the crypto community, propelling USUAL tokens to new heights within just 24 hours, climbing from $1.05 to $1.21—a remarkable 25% surge. This move signals a serious intent to bridge the gap between the crypto world and the tangible economy.
Strategic Partnerships To Bring Innovation
Usual has announced a strategic partnership with Ethena Labs and Securitize, the tokenization platform known for its work with BlackRock’s BUIDL fund. In the current political climate, this is a calculated move aimed at enhancing the expanding DeFi market by providing users with increased liquidity, yields that are 80% higher, and seamless integration. Alex Odagiu, investment director at Binance Labs, expressed optimism about the project’s potential to boost stablecoins and expand the overall crypto ecosystem. Binance’s commitment to stablecoin investments is evident, as it continues to support community-driven initiatives such as the Solana-based Perena and the Bitcoin liquid staking platform, Lombard.
Pierre Person, CEO of Usual, expressed his enthusiasm for the collaboration, emphasizing the potential for growth and transformation. He stated, “With strong support from our backers, this achievement will help Usual grow from DeFi into CeFi and transform the stablecoin market.” This partnership positions Usual to play a pivotal role in shaping the future of stablecoins, potentially redefining the landscape of digital assets.
Why It Matters?
The partnership between Usual, Binance, and other key players is revitalizing confidence in stablecoins, which had been on a decline under the regulatory pressures of Gary Gensler’s tenure. With Gensler stepping down and the anticipation of more crypto-friendly policies under the new administration, the market is poised for a swift recovery, particularly in the stablecoin sector. This newfound optimism is likely to attract more investors and users to stablecoin platforms, driving innovation and growth in the crypto industry.
As the crypto world evolves, the strategic alliances and forward-thinking investments by major players like Binance and Kraken are setting the stage for a new era of stablecoins, bridging the gap between decentralized finance (DeFi) and centralized finance (CeFi). The future looks promising as these developments unfold, offering exciting opportunities for both institutional and retail investors.
