What is World Liberty Financial USD (USD1)?
USD1 is a fiat-backed stablecoin introduced by World Liberty Financial (WLFI), a financial technology company with ties to U.S. President Donald Trump. The stablecoin is designed to maintain a fixed value equivalent to the U.S. dollar on a 1:1 basis.
The project behind USD1 aims to provide a digital asset that offers price stability through full collateralization. It is currently deployed on the Ethereum and BNB Chain networks, with future plans to integrate with additional blockchain platforms.
USD1 is intended for use in both retail and institutional transactions. It is promoted for large-scale financial operations, including cross-border payments, due to its low-friction conversion process between fiat and digital currencies. The stablecoin does not charge transaction fees for minting or redemption, which is positioned as a feature to improve operational efficiency.
The asset is backed entirely by short-term U.S. Treasury instruments, U.S. dollar cash deposits, and similar liquid assets. BitGo Trust Company is responsible for the custody and management of these reserves.
The stablecoin was launched with a circulating and total supply of 2.13 billion USD1.
USD1 is listed on Binance for trade and purchase. The current price of USD1 is available and updated in real-time on Binance.