USUAL LABS has completed a $7 million financing round, planning to launch the stablecoin USD0.

Stablecoin startup USUAL LABS has completed a $7 million financing round, with IOSG and KRAKEN VENTURES leading the investment. Other participants include GSR, MANTLE, STARKWARE, FLOWDESK, AVID3, BING VENTURES, BREED, HYPERSPHERE, KIMA VENTURES, PSALION, PUBLIC WORKS, and X VENTURES. USUAL LABS plans to use these funds to launch stablecoin USD0 on the Ethereum mainnet in the second quarter of this year, providing funding for the testnet phase and smart contract audits. (THE BLOCK)