Stablecoin startup Usual Labs completes $7 million funding, led by IOSG Ventures

ChainCatcher news, according to The Block, stablecoin startup Usual Labs has completed a $7 million financing round, led by IOSG Ventures, with participation from Kraken Ventures, GSR, Mantle, Starkware, Flowdesk, Avid3, Bing Ventures, Breed, Hypersphere, Kima Ventures, Psalion, Public Works, and X Ventures.

It is reported that Usual Labs plans to use these funds to launch the stablecoin USD0 on the Ethereum mainnet in the second quarter of this year, needing to fund the testnet phase and smart contract audits.