Verona Launches verUSD Stablecoin With $100 Million in Institutional Commitments

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• Verona launched verUSD, a USD-backed stablecoin, at Korea Blockchain Week in Seoul on September 28, 2026, with more than $100 million in institutional commitments
• The token launches natively across seven blockchains at once: Ethereum, Polygon, Avalanche, Optimism, Arbitrum, Celo, and Solana, with more chains planned
• More than $60 million in already-signed, contracted payment volume is migrating to verUSD from USDC, giving the token established real-world usage from day one

Verona announced in a release distributed on GlobeNewswire at 09:00 ET on September 28, 2026 that it has launched verUSD, a USD-backed stablecoin, during Korea Blockchain Week in Seoul. The launch carries more than $100 million in institutional commitments from backers including Animoca Ventures, Figment Capital, Sfermion, Pentos, Ero, and Arkstream.

The token debuts natively across seven blockchains simultaneously: Ethereum, Polygon, Avalanche, Optimism, Arbitrum, Celo, and Solana, with the company saying additional chains are planned. Launching across that many networks at once is designed to let verUSD reach users and applications wherever they already operate rather than requiring a separate bridging step onto a single home chain.

Unlike a typical stablecoin launch that seeks adoption from a standing start, Verona said verUSD enters the market with more than $60 million in already-signed, contracted payment volume, consisting of existing customers simply migrating their payment flows from USDC to verUSD rather than net-new demand the company still has to generate.

“Our products are built to be invisible, powering the payment layer of the internet quietly,” Verona chief executive Anthony Anzalone said in the release. James Ho of Animoca Ventures added that the token “launches into a network that already has real verification volume and paying customers, so it’s tied to usage rather than speculation,” framing the launch’s early traction as a differentiator from stablecoins that debut without an existing base of users.

Verona, formerly known as XION, operates a decentralized information verification network used by more than 115 global brands including Uber, Amazon, Nike, and BMW, and says it has processed more than 70 million verified interactions to date. The company has raised $36 million to date from investors including Animoca Brands, Multicoin Capital, and HashKey Capital, positioning verUSD as an extension of an existing verification business into stablecoin-based payments rather than a standalone financial product built from scratch.

Launching a stablecoin backed by an existing base of contracted payment volume, rather than waiting for organic adoption after launch, has become an increasingly common approach among newer entrants competing against established players such as USDC and USDT, since it gives the token measurable transaction activity from its first day on every network it supports rather than an empty balance sheet the issuer then has to fill.