WLFI backed by Donald Trump launches USD1 Stablecoin in Ethereum and the Binance BNB chain

World Liberty Financial (WLFI), the company defi backed by the president of the United States, Donald Trump, has launched a stablecoin called USD1.

Aimed at the US dollar, the Token is designed to function as a digital asset equivalent to the dollar and is currently available in the BNB block chains of ethereum and Binance.

Stablecoin

Although the cryptocurrency addressed in early March, World Liberty Financial has not issued an official announcement about its launch.

Changpeng 'CZ' Zhao, the former CEO of Binance, was one of the first to publicly share the <a target="_blank" href="https://x.com/cz_binance/status/1904206000456077411″ target=”_blank” rel=”noopener” data-wpel-link=”external”>news When publishing a link to Token on social networks, where it was later recognized by the official WLFI channel. However, the project <a target="_blank" href="https://x.com/worldlibertyfi/status/1904231269111578790″ target=”_blank” rel=”noopener” data-wpel-link=”external”>warned That USD1 “is currently not commercialized” and urged the community to be aware of the scams.

The launch of the USD1 Stablecoin in the BNB chain occurred days after the reports suggested that the Trump family had conversations with Binance about acquiring a participation in the exchange and possibly granting CZ a presidential pardon. However, Zhao quickly denied these statements and argued that there had been no discussions on a commercial agreement between the exchange of cryptography and the Trump family.

He also criticized the article of the Wall Street Journal, claiming that it was an attack on both President Trump and the cryptographic industry, and attributed the report to the ongoing efforts of the previous administration to undermine the cryptographic sector.

Stablecoin regulation with genius

The launch of USD1 also arrives at a time when the United States Congress is evaluating the legislation that could affect the future of the stable in the country. Specifically, the National Innovation Law of National Innovation for the United States (Genius), which has already cleared the Senate Banking Committee, can soon be made for a complete vote. Industry experts speculate that the bill could be on the desk of President Trump for June.

This could have significant implications for projects such as USD1, since regulators analyze the potential that establishment stables are more fully integrated into the financial system.

From now on, the USD1 Token has a total supply of more than $ 3.5 million, and WLFI has completed two successful public tokens sales, raising a total of $ 550 million. Despite this, much about the company remains secretly wrapped.

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