From Yahoo Finance: 2025-03-25 09:47:00

Donald Trump’s World Liberty Financial crypto venture will launch a dollar-pegged stablecoin called USD1, fully backed by U.S. Treasuries and cash equivalents, aiming for seamless transactions. Stablecoins like Tether and USDC have surged, totaling over $237 billion, with issuers profiting billions. World Liberty’s co-founder eyes integration for “sovereign investors and major institutions.”

Trump’s venture has raised $550 million selling $WLFI crypto coin, facing competition from Tether and Circle. BitGo will custody USD1 reserves, partnering with World Liberty for deep liquidity. USD1 will launch on Ethereum and Binance Smart Chain, with plans for other blockchains. Binance’s founder faced U.S. prison time and a $4.3 billion fine for money laundering violations.

Read more: Trump’s World Liberty Financial crypto venture to launch stablecoin