What Angle Protocol does

Angle Protocol, operated by Angle Labs Inc., is a decentralized finance (DeFi) protocol founded in 2021 and headquartered in Menlo Park, California. The company built stablecoin infrastructure offering three core products: USDA (a fully collateralized USD-pegged stablecoin), EURA (a Euro-pegged stablecoin), and stEUR (a yield-bearing Euro stablecoin that generated passive income through DeFi strategies, lending, staking, and real-world asset investments). The protocol was designed to maintain 1:1 redeemability with full collateralization, targeting DeFi users and stablecoin holders globally through a self-serve web application (app.angle.money). Distribution relied on organic crypto-native channels including Discord, X (Twitter), and GitHub, with the protocol cited by third-party research alongside MakerDAO's sDAI and Aave's aUSDC as a leading yield-bearing stablecoin example.

The business model was protocol-based, generating revenue (though not disclosed) from DeFi yield mechanics rather than traditional SaaS pricing. The company had 1-10 employees and raised a $5 million seed round on September 28, 2021, led by Andreessen Horowitz with participation from Alven, Divergence Ventures, Fabric Ventures, Global Founders Capital, and Wintermute Ventures. Pablo Veyrat served as co-founder. In 2026, Angle Labs announced the protocol is entering its "final chapter," with all USDA and EURA stablecoins redeemable 1:1 until March 1, 2027. The team has redirected its focus to a new initiative called Merkl (app.merkl.xyz), effectively ceasing new development on Angle Protocol.

Name

Angle Protocol

Legal name

Angle Labs Inc.

Website

https://angle.money

Company type

Private

Founded year

2021

Operating status

Closed

Headcount range

1–10 employees

Short description

Angle Labs Inc. operated Angle Protocol, a DeFi stablecoin infrastructure platform offering USDA, EURA, and yield-bearing stEUR stablecoins with 1:1 redeemability. The protocol is winding down, with all stablecoins redeemable until March 1, 2027.

Ownership category

akta.pro rank

Product category

Decentralized Finance (Stablecoin Protocol)

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Algorithmic / Overcollateralized Stablecoin Protocols (FSADADAC)

akta.pro secondary industries

Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF)

Keywords

• Stablecoin protocol
• Yield-bearing stablecoins
• DeFi infrastructure
• USD stablecoin
• Euro stablecoin

Headquarters

HQ city

Menlo Park

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Distribution channels1 record

Marketing channels3 records

Core offering

Angle Protocol is a DeFi protocol that issues and manages fully collateralized stablecoins pegged 1:1 to fiat currencies. Its core offerings are USDA (a USD-pegged stablecoin), EURA (a Euro-pegged stablecoin), and stEUR (a yield-bearing Euro stablecoin that earns passive income through DeFi strategies). All tokens remain redeemable 1:1 until March 1, 2027.

Product overview

Angle Protocol is a stablecoin infrastructure platform that offers multiple stablecoin products. The core offerings include USDA (a USD stablecoin) and EURA (a Euro stablecoin), both designed to maintain a 1:1 peg and remain fully collateralized with 1:1 redeemability. Additionally, the protocol offers stEUR, a yield-bearing Euro stablecoin that generates passive income through DeFi strategies while maintaining price stability. The protocol is currently in its final chapter, with all stablecoins redeemable until March 1, 2027.

Differentiator

Problem solved

Functional benefit

Products and services

• USDA USD stablecoin issued by Angle Protocol that maintains a 1:1 peg to the US dollar, is fully collateralized, and is redeemable through the Angle Protocol web application until March 1, 2027. Targeted at DeFi users and stablecoin holders.
• EURA Euro stablecoin issued by Angle Protocol that maintains a 1:1 peg to the Euro, is fully collateralized, and is redeemable through the Angle Protocol web application until March 1, 2027. Targeted at DeFi users and stablecoin holders.
• stEUR Yield-bearing Euro stablecoin that maintains a 1:1 peg to the Euro while generating passive income for holders through DeFi protocols, lending strategies, staking mechanisms, and real-world asset investments. Targeted at DeFi users seeking yield on Euro-denominated stable value.

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• MerklminorOthersThe Angle Protocol team has transitioned focus to Merkl (app.merkl.xyz). Users are directed to Merkl to follow what the team is working on, indicating the team has moved to this new project as Angle Protocol enters its final chapter.

Scale indicators2 records

Recent moves5 records

Expansion highlights1 record

Broad incumbents

• Curve Finance: Dominant stablecoin liquidity venue where stablecoins like USDA and EURA trade; provides critical liquidity infrastructure that supports Angle's stablecoin products.
• Circle (USDC): Issuer of USDC, the largest regulated USD stablecoin; represents the dominant non-yield-bearing incumbent against which Angle's yield-bearing design competes for user share.

Emerging players

• Ondo Finance: Tokenizes US Treasuries into yield-bearing stablecoin-like products (USDY, OUSG), competing for the same yield + stable-value use case that Angle targets with stEUR.
• Ethena: Issues USDe, a synthetic dollar that generates yield via delta-neutral hedging strategies—a comparable yield-bearing stablecoin mechanism to Angle's stEUR.
• Mountain Protocol (USDM): Issues USDM, a yield-bearing Euro/US dollar stablecoin backed by short-duration treasuries—a regulated direct competitor in the yield-bearing stablecoin category.
• Resolv Labs: Issues USR, a yield-bearing delta-neutral stablecoin, targeting the same 'stable value + yield' niche as Angle's stEUR with a different technical architecture.

Direct peers

• Aave: Operates aUSDC, a leading yield-bearing stablecoin generated through Aave's lending markets; cited alongside Angle as a top yield-bearing stablecoin protocol.
• Frax Finance: Issues FRAX, an algorithmic/overcollateralized stablecoin with a yield-bearing variant (sfrxETH), competing in the same design space as Angle's USDA and stEUR.
• MakerDAO: Decentralized protocol issuing DAI/sDAI (a yield-bearing stablecoin) via overcollateralization—the same model Angle Protocol uses for USDA and stEUR, making it the closest direct comparable.
• Sky (formerly MakerDAO): Relaunched brand of the MakerDAO ecosystem issuing USDS and sUSDS (a yield-bearing stablecoin)—the most direct head-to-head competitor to Angle's USDA/stEUR design.

Market position

Strengths3 records

Weaknesses3 records

Competitive moat3 records

Key risks5 records

Key highlights4 records

Customer concentration

• Xx.com/AngleProtocol
• LinkedInlinkedin.com/company/angle-protocol

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Angle Protocol