Some of the biggest players in digital assets are betting on a decentralized stablecoin company. But, why?

‍What’s happening:‍

• Decentralized stablecoin company Usual has raised $10M USD in a new Series A funding round
  
• The round was led by Binance Labs and Kraken Ventures, with notable participation from both Coinbase (NASDAQ: COIN) and Galaxy Digital (TSX: GLXY)
  

Why it matters:‍

• Innovation in stablecoins has been on the rise recently, with new launches coming from giants in the digital asset ecosystem including Ripple and Paxos
  

By the numbers:‍

• Usual already has $1.4B USD in total value locked on their network, which makes them one of the largest stablecoins in all of crypto
  
• 90% of Usual’s token is distributed to individual users, which is part of Usual’s vision of democratizing both ownership and profit sharing
  

Going deeper:‍

• Usual has quickly become the fastest growing stablecoin that is built on top of the Ethereum blockchain and has seen enormous adoption from users which has largely been fuelled by their value redistribution model

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