Trump-backed USD1 crypto coin to hit market soon
World Liberty Financial, a DeFi platform backed by President Donald Trump and his family, is launching a new stablecoin called USD1.
The token will be backed 100% by short-term U.S. government treasuries, dollar deposits, and cash equivalents.
USD1 will be launched first on Ethereum and Binance Smart Chain networks.
More blockchain platforms will be added later.
The reserves of USD1 will be held by BitGo, the world’s largest independent digital asset custodian.
WLFI co-founder Zach Witkoff says the new coin will offer secure, seamless cross-border transactions — something many current crypto projects cannot provide.
Witkoff is the son of Trump’s Mideast envoy Steve Witkoff.
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