OKX Ventures Supports Decentralized Stablecoin Innovation with Usual Protocol

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by Giorgi Kostiuk

2 years ago

OKX Ventures, the investment arm of the global cryptocurrency exchange OKX, has invested in Usual Protocol, a decentralized stablecoin issuer pioneering a unique financial model.

OKX Ventures Investment in Usual Protocol

OKX Ventures announced its involvement with Usual Protocol, stating that it aligns with their commitment to support projects that bridge traditional and decentralized financial technologies. Dora, the founder of OKX Ventures, expressed confidence in Usual developing into the new infrastructure that fuels long-term value creation for global decentralized finance.

We are excited to support USUAL in becoming the 'new infrastructure' that drives the long-term value creation and growth of global decentralized finance.Dora

Usual Protocol's Unique Model

Usual Protocol stands out in the stablecoin landscape by integrating decentralized governance in its issuance process and backing with real-world assets, notably U.S. Treasury Bills. This approach differentiates it from traditional stablecoins like USDT and USDC, allowing users to share in the protocol’s growth and future development.

Market Impact and Prospects

Currently, the USUAL token has a market capitalization of $635 million, with a trading volume of $964 million in the past 24 hours. The token's price has increased by 31.4%, now trading at $1.32. OKX Ventures has a fund size of $100 million and a portfolio that includes blockchain infrastructure and DeFi projects such as Sei Network, Arbitrum, and zkSync. The addition of Usual Protocol emphasizes their focus on impactful initiatives poised to transform the blockchain industry. Notably, this investment move adds OKX to the list of crypto exchanges supporting the protocol, along with Binance, which offered early access to the USUAL/USDT trading pair.

OKX Ventures' investment in Usual Protocol highlights their dedication to supporting innovative decentralized financial solutions with the potential to impact the global financial landscape.

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