World Liberty Financial announced its plans to launch USD1 stablecoin

#WorldLibertyFinancial plans to launch #USD1 , a stablecoin backed 1:1 by the US dollar. WLFI’s USD1 stablecoin will be fully backed by short-term US treasuries, dollar deposits, and cash equivalents. Initially, it will launch on #Ethereum and #BSC , with plans to expand to other protocols in the future. It aims to maintain a $1 USD value, with reserves audited by a third party. USD1 reserves will be custodied by #BitGo, an independent qualified custodian and a leader in digital asset security, custody, and liquidity.

World Liberty Financial is a decentralized finance platform launched by #DonaldTrump . It aims to provide services like borrowing, lending and earning interest on cryptocurrencies, with a strong emphasis on supporting unbanked and underserved communities.

👉 medium.com/@wlfi/world-liberty-financial-plans-to-launch-usd1-the-institutional-ready-stablecoin-2606f48d72d0