World Liberty Financial (WLFI), the cryptocurrency project linked to US President Donald Trump and his family, has officially announced plans to launch USD1, an institutional-grade stablecoin backed by the US dollar.
WLFI’s stablecoin, USD1, will be 100% backed by short-term U.S. government treasuries, U.S. dollar deposits, and other cash equivalents.
USD1 will be issued on Ethereum and BSC, with plans to expand to other chains.
BitGo will serve as the custodian of USD1 reserves. BitGo Prime, BitGo’s primary brokerage service, will also support USD1, providing institutional clients with deep liquidity and trading access from insured and regulated qualified custody.
WLFI co-founder Zach Witkoff said:
“USD1 provides what algorithmic and anonymous crypto projects cannot: access to the power of DeFi, backed by the reliability and assurances of the most respected names in traditional finance.
“We are offering a digital dollar stablecoin that sovereign investors and large institutions can confidently integrate into their strategies for seamless, secure cross-border transactions.”
“The launch of USD1 represents a significant advancement in institutional-ready digital assets. Our customers demand both security and efficiency, and this partnership with WLFI delivers both,” said Mike Belshe, CEO of BitGo.
*This is not investment advice.
