What is USD1? An ambitious stablecoin from World Liberty Financial
USD1 is a stablecoin pegged 1:1 to the USD, launched in March by World Liberty Financial (WLFI), a DeFi platform with ties to the Trump family.
The project aims to provide an 'institution-ready' stablecoin, meeting the needs of both individual investors and large financial institutions. The strength of USD1 lies in its transparency, support from high-quality assets such as short-term U.S. Treasury bonds, and management by BitGo – a reputable digital asset custodian.
WLFI was co-founded by Zach Witkoff, with support from Donald Trump and his sons Eric Trump, Donald Trump Jr., along with cryptocurrency entrepreneurs like Chase Herro and Zachary Folkman.
USD1 token information
- Token name: World Liberty Financial USD
- Symbol: USD1
- Blockchain: Ethereum, BNB Smart Chain (BSC), with plans to expand to other chains
- Standard: ERC-20 (Ethereum), BEP-20 (BSC)
- Total supply: 2.13 billion USD1
- Circulating supply: 2.13 billion USD1
USD1 is designed for use in cross-border payments, DeFi trading, and as a stable asset in cryptocurrency trading pairs. The stablecoin supports fast transactions, low costs, making it particularly suitable for financial institutions and individual investors.
USD1 supports multi-chain, currently operating on Ethereum and BNB Smart Chain, with plans to expand to other blockchains in the future. The vision is to enable USD1 to easily integrate into DeFi protocols, facilitate cross-border payments, and trade at low costs.
