Trump’s World Liberty to Launch a Stablecoin

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President Donald Trump’s crypto initiative, World Liberty Financial, announced plans to launch a stablecoin that can be redeemed one-for-one with the dollar.

This move aligns with his administration’s support for digital tokens crucial to most crypto transactions.

The USD1 token will be fully backed by short-term US Treasuries, dollar deposits, and other cash equivalents, according to a statement on Tuesday from the Trump-supported decentralized finance firm.

BitGo Inc. will act as the custodian, with USD1 tokens initially minted on Ethereum and Binance Smart Chain blockchains. A launch date has not yet been provided.

“USD1 offers what algorithmic and anonymous crypto projects cannot—access to DeFi enhanced by the trust and safeguards of respected names in traditional finance,” stated Zach Witkoff, co-founder of World Liberty. “We’re providing a digital dollar stablecoin that sovereign investors and major institutions can confidently incorporate into their strategies for seamless, secure cross-border transactions.”