Eric Trump confirmed that investments of $2 billion in #Binance will be conducted in a stablecoin from World Liberty Financial

The stablecoin #USD1 , developed by the World Liberty Financial project associated with Donald Trump's sons, will be used to finalize the investment deal between the MGX fund and the Binance exchange. Eric Trump stated this at the Token2049 conference in Dubai.

The deal amount is $2 billion; Binance had previously stated that it would be conducted in stablecoins but did not disclose which ones. The use of USD1 was confirmed by World Liberty Financial co-founder Zach Whitcoff while speaking on the same panel as Trump.

The launch of USD1 was announced in March. The token is planned to be issued on the Ethereum, BNB Chain, and Tron networks. Eric Trump called it "one of the most transparent and regulated stablecoins in the world."

MGX is an investment company established in 2024 in partnership with the Abu Dhabi sovereign fund. It manages capital of approximately $100 billion and invests in artificial intelligence infrastructure and advanced technologies. The deal with Binance became MGX's first major cryptocurrency deal.