Binance, the largest cryptocurrency exchange in the world by trading volume, has announced the listing of USD1. This move has caused a double-digit increase in the trading volume of the stablecoin.
This stablecoin, pegged to the US dollar, is developed by World Liberty Financial (WLFI), a decentralized finance (DeFi) protocol supported by President Donald Trump and his family.
Binance announces the listing of USD1
According to the official announcement from Binance, USD1 will be available for trading against Tether (USDT).
"Binance will list World Liberty Financial USD (USD1) and open trading for the next spot trading pair on 2025-05-22 at 12:00 (UTC)," the exchange wrote.
Deposits for USD1 are already open on Binance, allowing users to prepare for trading. Withdrawals will be available starting May 23 at 12:00 UTC, enabling users to withdraw their assets when the trading pair goes live.
Following the news, the trading volume of USD1 surged from approximately $72 million to over $95 million at the time of publication, marking an increase of 31.9%. Moreover, CoinGecko data showed that the trading volume of USD1 increased by 626.5% in the last 24 hours.
This listing on Binance follows a recent development for USD1. The cryptocurrency exchange KuCoin also added it on May 21. The exchange launched spot trading for USD1 at 11:00 UTC, indicating growing interest in the stablecoin.
"KuCoin proudly announces yet another great project coming to our spot trading platform. USD1 (USD1) will be available on KuCoin!" the announcement states.
These exchange listings are a significant achievement for USD1, which was launched just two months ago. Despite this, it has already reached a market capitalization of over $2.1 billion, positioning itself as one of the fastest-growing stablecoins in the market.
Meanwhile, BeInCrypto reported that World Liberty Financial is also planning to conduct an airdrop of USD1 for its respective WLFI holders. The airdrop proposal, published on May 7, was accepted within a week with overwhelming support, as 6.8 billion users voted for the airdrop. The team stated that full details of the airdrop will be announced soon.
In addition to listings on exchanges, USD1 from WLFI has also gained significant popularity due to its role in high-profile institutional transactions. The investment firm from Abu Dhabi, MGX, chose USD1 for settling a $2 billion investment in Binance.
However, the rapid growth of the stablecoin has not gone unnoticed. Due to political connections with the Trump family, several lawmakers have expressed concerns about potential conflicts of interest. Despite these concerns, Binance's support indicates strong market confidence in the potential of the stablecoin.#BinanceSquare #Write2Earn #crypto #USD1 #TRUMP $USD1