World Liberty Financial Backed by Trump confirms the plans to debut USD1 Stablecoin in Ethereum, BNB Chain

World Liberty Financial, the project defi inspired by President Donald Trump, Tuesday confirmed Its plans to implement USD1, a stable built with sovereign institutions and investors in mind.

“USD1 provides what algorithmic and anonymous cryptographic projects cannot: access to the power of defi backed by credibility and safeguards of the most respected names in traditional finances,” said Zach Witkoff, co -founder of WLFI.

The planned stablcoin will be exchanging one by one for US dollars and completely backed by the United States government bonds, dollar deposits and cash equivalents.

The team said it will be launched in ethereum and Binance Smart Chain, with expansion plans to other protocols. The launch date remains a secret for now.

As part of the initiative, WLFI has been associated with Bitgo, a heavyweight in custody of digital assets, to provide custody and main brokerage services for USD1. The reservations will be audited regularly by a third -party accounting firm.

When discussing the plan, Mike Belshe, CEO of Bitgo, said that the launch of the USD1 Stablecoin of WLFI would represent a big step forward in making digital assets more attractive and usable for large traditional financial institutions.

“Our clients demand safety and efficiency, and this association with WLFI offers both, combining a deep liquidity with the guarantee that reserves are maintained and administered safely within the qualified and regulated custody,” said Belshe.

Initial tests and other key products

The announcement occurs after WLFI made a series of test transactions for its USD1 stablecoin in the BNB chain, crypto Briefing reported Monday. Wintermute also performed cross chain tests between ethereum and the BNB chain.

Stablecoin's implementation follows WLFI's completion of $ 550 million in two tokens sales series, which is expected to allane the road for future developments.

“In terms of what we are building, I would say that we have three main products that we are really building and developing. Two of which are already made and ready to send,” Folkman said in a recent discussion With Chainlink co -founder, Sergey Nazarov.

Folkman revealed that two of the products include a provision and loan market promoted by intelligent contracts and a protocol focused on real world assets (RWAS).

Unlike traditional defi loan platforms that depend on DAO, World Liberty Financial will administer its loan market through its own governance process. The platform aims to serve traditional financial institutions with tokenized assets.