Trump Family-Supported Decentralized Finance Project World Liberty Financial (WLFI) Announces USD Stablecoin USD1
The decentralized finance project World Liberty Financial (WLFI), supported by the Trump family, announced on Tuesday its plan to launch the USD stablecoin USD1, which will be managed by cryptocurrency custodian BitGo.
According to the statement, USD1 will be 100% backed by U.S. Treasury bills, dollar deposits, and other cash equivalents, and will initially be issued on the Ethereum blockchain and Binance Smart Chain (BSC), with plans to expand to other protocols in the future. Each token will maintain a value of 1 dollar and will be fully backed by a reserve portfolio that is regularly audited by a third-party accounting firm.
The WLFI team stated that unlike other projects that introduce additional risk factors, USD1 takes a conservative approach prioritizing stability, avoiding complex yield generation mechanisms, and instead focusing on providing the clarity and security necessary for broad institutional adoption.