The World Liberty Financial company (WLFI) of the Trump family continues to attract attention, expanding its influence in the crypto industry. Recent events follow key announcements made during Token2049 in Dubai.
Eric Trump made important statements during the event, particularly regarding integrations related to the USD1 stablecoin.
World Liberty Financial in 2049: What users need to know
Speaking at the Token2049 event, Eric Trump announced the integration of the USD1 stablecoin from World Liberty Financial with Tron.
Trump's DeFi project recently launched the USD1 stablecoin, intended to promote the dominance of the dollar. The stablecoin is backed by short-term U.S. Treasury bonds and cash equivalents.
Despite this integration, USD1 will be deployed as a TRC-20 token on the Tron blockchain. This will enable USD1 to utilize the high throughput and low cost of the Tron blockchain for transactions, smart contracts, and DeFi applications.
Thus, the integration expands the interoperability of the USD1 stablecoin beyond the BNB Smart Chain (BSC) and Ethereum.
Despite the significance of this integration, the move is not unexpected, given the recent connections between World Liberty Financial and Tron founder Justin Sun.
As reported by BeInCrypto, Justin Sun invested up to $30 million in the DeFi project, effectively becoming the largest investor in the project. Following this investment, the project appointed him as an advisor, highlighting his role as a prominent figure in blockchain innovations.
Recent reports indicate that Justin Sun may attend an exclusive dinner with President Trump for top TRUMP holders next month. Speculations arise as Sun's HTX cold wallet tops the TRUMP leaderboard, adding mystery on social media. The USD1 stablecoin will finalize a $2 billion deal with MGX and Binance.
Another significant revelation during Token2049 is that the USD1 stablecoin from World Liberty Financial is the choice for MGX's $2 billion investment in Binance.
In March, MGX, the sovereign wealth fund of Abu Dhabi, committed to investing $2 billion in the Binance exchange using stablecoins.
"MGX, the sovereign wealth fund of Abu Dhabi, is investing $2 billion in Binance for a minority stake. The transaction will be 100% in cryptocurrency (stablecoins), making it the largest investment transaction made in cryptocurrency to date. It is also the first institutional investment accepted by Binance. Onward, let's build!" wrote Changpeng Zhao (CZ), founder of Binance and former CEO.
With the rise of USD1 to the status of the preferred stablecoin in this landmark investment, it indicates growing acceptance and legitimacy of the token.
The investment will allow MGX to acquire a stake in Binance, becoming one of the first institutional investments in the largest exchange in the world.
It is worth noting that this revelation came just days after the executives of World Liberty Financial met with Changpeng Zhao in Abu Dhabi. They reportedly discussed the standardization of the crypto industry and strengthening efforts towards global adoption.
Meanwhile, amidst these discoveries surrounding the DeFi project, data shows that the USD1 stablecoin has exceeded $2 billion in market capitalization metrics. This positions it as one of the fastest-growing stablecoins since its launch in March.#Write2Earn #BinanceSquare #USACryptoTrends #Binance #TRUMP $TRUMP