The digital currency project #WLFI , associated with the Trump family, has officially announced the launch of the USD1 stablecoin for institutions.
This stablecoin will be fully backed by short-term US Treasury bonds, dollar deposits, and equivalent cash currencies. USD1 has initially been issued on Ethereum and BSC, and the organization plans to expand to include other blockchain networks.
BitGo has been appointed as the custodian for USD1 reserves.