World Liberty Financial (WLFI), a decentralized finance protocol backed by U.S. President Trump, has confirmed its plans to launch a stablecoin.
USD1 will be fully backed by short-term U.S. government securities, U.S. dollar deposits, and other cash equivalents, and will be first available on Ethereum and BNB Chain.
The stablecoin aims to provide access to DeFi with the credibility and safeguards of traditional finance, offering a digital dollar that can be integrated into strategies for secure cross-border transactions, WLFI co-founder Zach Witkoff said.