World Liberty Financial has announced the USD1 stablecoin, pegged 1:1 to the US dollar and backed by US Treasury bills and cash equivalents. It will launch on Ethereum and BSC, with BitGO as the crypto custodian.

The platform offers stablecoin trading, lending, and liquidity pools, with governance via the WLFI token. Donald Trump is listed as the project's "human rights advocate," his sons as "Web3 ambassadors," and Barron as a "DeFi visionary."

USD-backed stablecoins like USDT and USDC generate revenue through interest on reserves. Trump has supported this market since January.