President Trump’s World Liberty Financial Announces Launch of ‘Institutional-Ready’ Stablecoin USD1
President Trump-backed World Liberty Financial is announcing plans to launch a new stablecoin on Tuesday that would be aimed at bridging traditional finance with digital assets. According to a press release, the new stablecoin is called USD1, which will be pegged to the US dollar and backed by short-term government treasuries, dollar deposits and cash equivalents. Says World Liberty Financial co-founder Zach Witkoff, “USD1 provides what algorithmic and anonymous crypto projects cannot—access to the power of DeFi underpinned by the credibility and safeguards of the most respected names in traditional finance. We’re offering a digital dollar stablecoin that sovereign investors and major institutions can confidently integrate into their strategies for seamless, secure cross-border transactions.” Initially available on Ethereum (ETH) and Binance Smart Chain (BSC) networks, USD1 targets institutional and sovereign investors. The platform has secured partnerships wi...