The world's largest cryptocurrency exchange, Binance, includes the USD1 stablecoin on its trading platform with some geographic exceptions. This is the token of World Liberty Financial (WLFI), the decentralized finance protocol of Donald Trump's family. The inclusion of this currency on the exchange was expected after numerous reports and rumors.
Major U.S. media outlets have pointed out on several occasions the close relationships between Changpeng Zhao and the Trump family. In particular, the exchange Binance would have agreements with the WLFI protocol, which would even be interested in making a substantial investment in the U.S. branch of the exchange.
Similarly, it was reported that the UAE company MGX used the WLFI stablecoin for a $2 billion injection into Binance. Meanwhile, Zhao applied for presidential pardon for his criminal past in the United States. As is well known, the popular CZ served time in prison last year in the North American country after pleading guilty to several federal offenses.
In the midst of all this context, the exchange founded by CZ (Binance) includes the USD1 stablecoin in its trading list. As mentioned at the beginning, trading with this token has significant geographic restrictions. In this sense, trading the token is excluded in the European Union (EU), in the United States, in parts of Ukraine, and other regions like Puerto Rico, according to the statement.
USD1 will receive a huge boost with its listing on Binance
For any token, listing on major exchanges like Binance and others becomes a guarantee of appreciation. This is because these platforms offer visibility and easy, quick exposure to the currency. In this way, the vast majority of crypto traders refrain from turning to decentralized exchanges and other platforms to find tokens.
In contrast, tokens listed on centralized exchanges are easier to trade and, in theory, have gone through a verification process that makes them reliable. These are the basic advantages that tokens experience in listings. Besides this, the improvement increases according to the importance of the exchange in question.
Thus, for the stablecoin of WLFI, its listing on the world's most important exchange will be of enormous help. The market capitalization of the token is expected to grow rapidly in the coming months due to the increasing demand it will be exposed to on Binance.
Currently, the USD1 token is among the top 5 largest stablecoins by market capitalization, with $2.141 billion. It is important to mention that this sector is largely dominated by the two main coins (USDT from Tether and USDC from Circle). However, the WLFI token quickly managed to surpass rivals with greater experience and consolidation like PYUSD from PayPal.
