Donald Trump’s World Liberty Financial is launching a new dollar-pegged stablecoin called USD1. This announcement follows the company’s successful fundraising of over $500 million through the sale of a separate digital token. USD1 aims to maintain a stable value of $1 by being fully backed by US Treasuries, dollars, and other cash equivalents.
Stablecoins like Tether and USDC have experienced rapid growth within the cryptocurrency market, becoming vital components of the multi-trillion dollar industry. World Liberty’s entry into the stablecoin arena positions them to compete alongside these established players. The backing of USD1 with traditional assets like US Treasuries and dollars aims to provide users with confidence in its stability and value.
