OKX Ventures Invests in USUAL, a Decentralized Stablecoin Protocol
The investment arm of the popular cryptocurrency exchange OKX, OKX Ventures, has recently announced its investment in the Usual Protocol, a decentralized stablecoin issuer aiming to revolutionize the financial industry.
OKX Ventures, with a $100 million initial investment fund, focuses on identifying promising blockchain startups. Its diverse investment portfolio includes projects in blockchain infrastructure, layer-2 scaling solutions, and DeFi innovations such as Sei Network, Arbitrum, SSV, LayerZero, and zkSync.
Usual Protocol sets itself apart by utilizing decentralized governance and real-world assets like US Treasury Bills (T-Bills) to back its stablecoin. T-Bills are considered one of the safest investments globally due to the support of the U.S. government, enhancing the stability and reliability of USUAL’s stablecoin.
By supporting USUAL, OKX Ventures is driving the growth of decentralized financial infrastructure. Unlike traditional stablecoins like USDT and USDC, USUAL shares earnings from stablecoin issuance with users, promoting wealth redistribution and empowering users to shape the protocol’s future.
USUAL’s token currently boasts a market cap of $635 million and a trading volume of $964 million in the last 24 hours. Its bullish price performance on Nov. 24, 2024, reflects market confidence in its innovative approach to stablecoin issuance and DeFi. As of now, USUAL is trading at $1.34, marking a significant 31.4% price increase from the previous day.
OKX Ventures’ investment signals a significant step towards fostering decentralized stablecoins, with USUAL poised to play a pivotal role in reshaping the financial landscape. With this backing, USUAL is well-positioned to lead the next phase of growth in the global DeFi market.
Source: CoinmarketCap
In conclusion, the investment by OKX Ventures in USUAL signifies a significant advancement in the realm of decentralized stablecoins, with the potential to drive transformative change in the financial sector.