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On May 14, the cryptocurrency lending platform World Liberty Financial, launched by the family of U.S. President Donald Trump, will conclude voting on the test distribution of the new stablecoin #USD1 for early holders of WLFI tokens. The platform's team explained that they are conducting this vote to test the technical functionality of the airdrop mechanism. #NewsTrade

The WLFI platform positions USD1 as a stablecoin backed by short-term U.S. Treasury bonds, cash, and cash equivalents. The custodian service BitGo intends to control the reserves backing the USD1 stablecoin.#

Today, 88% of all transactions are conducted in dollars. Its share in the reserves of foreign banks is 57%. However, as recently as 2021, it reached 71%.

When the global role of the dollar is questioned by other currencies, such as the Chinese yuan, the U.S. dollar is transforming again, now through stablecoins.

We are talking about tokens pegged to the dollar.