#Square
$World Liberty coin ⚡Stablecoin USD1 will facilitate a $2 billion investment by MGX in Binance
Zach Witkoff, co-founder of WLFI, announced during the Token2049 conference in Dubai that the USD1 stablecoin recently launched by World Liberty Financial (WLFI) will become the settlement currency for a $2 billion investment by Abu Dhabi-based MGX in Binance.✨
The decision to use USD1 for settlement has not yet been disclosed. This stablecoin, which has not yet been listed on major centralized exchanges like Binance and Coinbase, quickly reached a value of $2.1 billion, surpassing established competitors like Tether's USDT and Circle's USDC.✍🏻
Despite this impressive valuation, USD1 still has a long way to go to reach USDT's value of $149.3 billion, which accounts for over 61% of the total stablecoin market value.