World Liberty Financial, a decentralized finance venture backed by President Donald Trump and his family, on Tuesday announced plans to launch a stablecoin named USD1.
The company said this digital asset will be pegged to the U.S. dollar and fully backed by short-term U.S. government treasuries, U.S. dollar deposits, and other cash equivalents.
Initially, USD1 will be available on the Ethereum and Binance Smart Chain networks, with intentions to expand to additional blockchain platforms in the future.
“USD1 provides what algorithmic and anonymous crypto projects cannot — access to the power of DeFi underpinned by the credibility and safeguards of the most respected names in traditional finance,” said World Liberty Financial co-founder Zach Witkoff. “We’re offering a digital dollar stablecoin that sovereign investors and major institutions can confidently integrate into their strategies for seamless, secure cross-border transactions.”
This comes as the market cap of dollar-backed stablecoins—cryptocurrencies pegged to the U.S. dollar—has hit record highs this year, growing over 46% in the past year, according to CryptoQuant.
Since launching in October 2024, WLF, a crypto banking platform backed by Donald Trump and his family, has raised $550 million through two token sales—$300 million initially and another $250 million last week.
According to offering documents, entities linked to the Trump family could receive up to 75% of the venture’s net revenue
World Liberty Financial has attracted over 85,000 verified participants in its token sales, all of whom completed Know Your Customer verification to confirm eligibility.
President Trump has earlier issued an executive order creating a Strategic Bitcoin Reserve to manage the government’s Bitcoin holdings.
At the same time, David Sacks, the administration’s AI and crypto czar, sold over $200 million in digital assets to avoid conflicts of interest.
