Trump-Backed World Liberty Financial Launches USD1 Stablecoin

The U.S. dollar-pegged stablecoin, backed by U.S. Treasuries and managed by BitGo, is now operational on Ethereum and Binance Smart Chain.

World Liberty Financial, a cryptocurrency venture led by Donald Trump and his family, has officially launched USD1, a stablecoin pegged to the U.S. dollar.
USD1 is fully backed by U.S. Treasuries, dollar deposits, and other cash equivalents, with custody provided by BitGo, a leading qualified custodian.
The stablecoin is designed for use on Ethereum and Binance Smart Chain, targeting both institutional and retail adoption.
The Trump administration has prioritized cryptocurrency development, with regulatory clarity and stablecoin adoption at the forefront of its financial strategy.
Despite raising $550 million in token sales, USD1 faces significant competition from established stablecoins like Tether and USDC in a rapidly growing market.