Binance Announces USUAL Stablecoin Launch
Binance has announced that the launch of the USUAL stablecoin has been scheduled for November 19, 2024. The cryptocurrency exchange will list the USUAL/USDT trading pair, making it the 61st project on Binance Launchpool.
According to the announcement, pre-market trading will begin at 10:00 UTC. Twelve hours before the launch, a dedicated webpage for USUAL will offer users detailed information on the stablecoin.
Usual Labs, the stablecoin issuer, has significant backing from Kraken, Mantle, Starkware, GSR, and over 150 investors. Built on the Ethereum blockchain, USUAL emphasizes community-driven engagement through its revenue-based model.
Airdrops for USUAL will be distributed in BNB and FDUSD tokens, providing early adopters additional benefits. The total supply of USUAL stablecoin is 4 billion tokens.
At launch, 12.37% of the total supply, equivalent to 494.6 million tokens, will circulate in the market. Binance has allocated 7.5% of the supply as rewards for user engagement and trading activities.
USUAL Stablecoin Gains Early Market Traction
The stablecoin issuer completed a $1.5 million funding round last week, with participation from Echonomist, Breed Syndicate, and Comfy Capital. Usual Labs will utilize funds to enhance the USUAL’s market visibility and operational capabilities.
This development follows Usual Labs’ introduction of the USD0 stablecoin in February 2024. USD0 is a decentralized stablecoin supported by real-world assets, which also functions as a governance token, enabling participation in network decision-making.
Tether Mints $1 Billion USDT on Tron
According to data from Arkham Intelligence, Tether has minted $1 billion in Tether-USD tokens (USDT) on the Tron blockchain. This move underscores the efficiency of the Tron network for stablecoin transfers.
The $1 billion minting began with a transfer from a “black hole address” on Tron to Tether’s multi-signature wallet, identifiable by its “TBPxh” prefix.
The ability to transact such a large amount of these coins without costs highlights Tron’s appeal for cost-effective financial operations. Tron’s low transaction fees have positioned it as a strong competitor to Ethereum in the stablecoin space.
While Ethereum boasts a larger ecosystem, Tron has become a preferred choice for issuers of this USD-pegged digital asset, especially in developing countries that cannot afford the high transaction fees associated with owning digital assets.
Tron Dominates in Stablecoin Activity
According to Tether’s transparency page, the total authorized supply of USDT on the Tron network stands at $62.7 billion, nearly matching Ethereum’s $62.9 billion. This parity is notable given Ethereum’s broader adoption and infrastructure.
The high volume of these USD-pegged crypto transactions on Tron has significantly contributed to the network’s revenue, generating $577 million in Q3 2024. As of August 2024, Tron accounted for 37.9% of the global stablecoin supply, trailing only Ethereum, which held 55.7%.
Tether’s consistent issuance of USDT on Tron supports this growth, with previous mintings replenishing reserves rather than entering circulation immediately.
Tether Expands with Hadron Tokenization Platform
In addition, Tether has rolled out a private beta for a new tokenization platform called “Hadron by Tether.” This platform aims to streamline asset tokenization, including bonds, stocks, funds, loyalty points, stablecoins, real estate, and art.
According to Tether’s CEO Paolo Ardoino, the platform is fully non-custodial and integrates support for multiple blockchains. Ardoino described Hadron as marking “the beginning of a new era for finance.”
He emphasized its intuitive user interface for setting up and configuring multi-signature wallets, including hardware wallets, along with a streamlined user experience for issuers and end-users. Hadron also includes advanced controls for compliance, Know-Your-Customer (KYC), Anti-Money-Laundering (AML), risk management, and transaction monitoring.
Tether has already presented Hadron to various companies, institutions, and governments, signaling a significant step toward the broader adoption of tokenization technology. USDT’s market cap exceeds $126 billion and recorded a 24-hour trading volume of nearly $170 billion at the time of writing.
Tether’s latest advancements with Tron and Hadron will further help sustain its leadership position in the stablecoin market.
