Usual Labs' backers include co-leads IOSG and Kraken Ventures as well as GSR, Mantle, Starkware, Flowdesk, Avid3, Bing Ventures, Breed, Hypersphere, Kima Ventures, Psalion, Public Works, and X Ventures, among others.
"Usual is poised to be a Tether Killer, aiming for the same rapid success and growth as Ethena, but with limitless scalability and an ultra-safe real world asset architecture," Usual Labs founder and CEO Pierre Person said. "The support and trust we have received from our hundred visionary investors, including IOSG and Kraken Ventures, validates our mission to continue to revolutionize the financial landscape," Person said in a statement.
"Usual's infrastructure bridges trusted and quality assets from traditional finance with the efficiency of decentralized finance, while sharing profits with users instead of paying it to middlemen," said Kraken Ventures Partner Stuti Pandey in a statement.
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