Usual

On-chain AUM$548.25m

Platform totals

Live assets1

Chains4

DeFi TVL$22.61m

DeFi TVL / AUM4.12%

Confirmed attestations0 / 1

Primary accessPermissionless (1)

Totals for filtered assets

$548.24m

$22.61m

Assets Rankings

Name	Asset Group
UsualUSD0	Bonds	$1	$548.24m	$548.24m	$22.61m	4.12%			Usual	RWA Stablecoins	RWA Fiat Stable	Permissionless	Asset	RWA	Association de Développement de la DAO Usual (ADDU)	Yes	No				Yes	Yes

About Usual

Usual offers a stablecoin backed by real-world assets and Treasury securities, combining yield generation with price stability. It enables institutional-grade stable settlement with underlying RWA collateral.

RWA Fiat StableRWA StablecoinsPermissionless

Website Docs Protocol page

Profile

Founded: 2022
Headquarters: Paris, France
Primary chain: Ethereum
Parent platform: Usual
Issuer: Association de Développement de la DAO Usual (ADDU)

Economics & revenue

Mint fee0 bps

Redemption fee0 bps

Float incomeYes

Revenue confidenceIssuer-Disclosed

Fees last verified2026-07-09

Attestations & milestones

2026-01Usual Credit fixed rate lending launched and DAO approved acquiring the Fira lending protocol
2025-12USD0 plus plus restructured into bUSD0 and rt-bUSD0 with full DAO convergence to community ownership
2025-10EUR0 euro stablecoin launched
2025-01USD0 plus plus redemption floor change triggered a depeg below 90 cents
2024-1210M Series A led by Binance Labs and Kraken Ventures

Revenue methodology & documents

Mint fee zero and redemption fee governance configurable, currently zero per the fact sheet. T-bill collateral yield is protocol revenue with 30 percent distributed weekly to locked USUAL holders and 70 percent to the DAO treasury since January 2025.

Issuer registry, regulation & leadership

Founders and leadership

Pierre Person — Co-Founder, CEO Hugo Salle de Chou — Co-Founder, COO Adli Takkal Bataille — Co-Founder

Regulatory status

USD0 is issued by the Usual DAO rather than a licensed e-money institution and no MiCA authorization or AMF PSAN registration is verifiable. Terms are provided by ADDU, a French association, and prohibit US users. Regulatory posture rests on the collateral layer through regulated tokenizers including Hashnote USYC, Spiko, and M0 with custody at BNY Mellon and CACEIS.

Entity structure

Up Only Co, a French SAS in Paris known as Usual Labs, develops the protocol while ADDU, a French association, provides interfaces and DAO organization. USD0 is issued onchain by the Usual DAO which since December 2025 holds all protocol assets. USUAL tokens confer no equity in either French entity.

Issuer source