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2mo ago

Trump-Backed World Liberty Financial Launches USD1 Stablecoin

The dollar-pegged cryptocurrency, backed by U.S. government treasuries, aims to attract institutional investors and bolster U.S. dollar dominance in digital finance.

A Fidelity spokesperson says the firm is 'testing' a USD-pegged stablecoin.
Zach Witkoff speaks on Day 4 of the Republican National Convention (RNC), at the Fiserv Forum in Milwaukee, Wisconsin, U.S., July 18, 2024. REUTERS/Mike Segar/File Photo
Donald Trump, Jr. speaking at the DC Blockchain Summit on March 26, 2025. (Jesse Hamilton/CoinDesk)

Overview

  • World Liberty Financial, supported by President Donald Trump and his family, has officially launched USD1, a stablecoin pegged to the U.S. dollar.
  • USD1 is backed by short-term U.S. government treasuries, dollar deposits, and cash equivalents, with reserves managed by crypto custodian BitGo.
  • The stablecoin is available on Ethereum and Binance Smart Chain, with plans for expansion to additional blockchain networks in the future.
  • The launch coincides with a legislative push for stablecoin regulation, strongly supported by the Trump administration to solidify the U.S. dollar's role in global finance.
  • Concerns have emerged over potential conflicts of interest, regulatory scrutiny, and fraudulent tokens mimicking USD1, prompting warnings from Binance founder Changpeng Zhao.