The stablecoin USD0 under Usual Labs has surpassed a market capitalization of 1.40 billion, growing by 243% in the past month.

Odaily Planet Daily reported that data from DefiLlama shows that the stablecoin product $USD0, launched by stablecoin developer Usual Labs, has a market capitalization exceeding 1.40 billion USD, ranking sixth among stablecoins; it has grown by 66.12% in the past 7 days and by 243% in the past month.

Previously, in April, Usual Labs announced the completion of a 7 million USD financing round, led by IOSG and Kraken Ventures, with participation from GSR, Mantle, Starkware, Flowdesk, Avi d3, Bing Ventures, Breed, Hypersphere, Kima Ventures, Psalion, Public Works, and X Ventures.