WLFI confirms launch of USD1 stablecoin backed by U.S. treasuries
Confirming on-line hypothesis, World Liberty Monetary Inc. has introduced the launch of USD1, a stablecoin redeemable 1:1 for the U.S. greenback and totally backed by short-term U.S. Treasuries, money deposits, and different equivalents.
USD1 will initially launch on Ethereum (ETH) and Binance (BNB) Good Chain, with plans to increase to further blockchains, based on a observe shared with crypto.information.
WLFI positions USD1 as a secure, institution-friendly different to algorithmic and undercollateralized stablecoins. The corporate emphasised transparency, with third-party audits making certain reserves match the token’s circulating provide.
This information confirms speculation that WLFI had launched its USD1 stablecoin on BNB Chain, with blockchain analytics detecting interactions between its contract and a pockets linked to Wintermute.
Regardless of the deployment occurring round three weeks in the past, neither World Liberty Monetary nor the Trump household had issued an official assertion till now.
BitGo as custodian
BitGo, a number one digital asset custodian, will maintain USD1’s reserves. The corporate, which serves institutional shoppers worldwide, may also present buying and selling and liquidity help by way of BitGo Prime.
“The launch of USD1 represents a big development in institutional-ready digital belongings,” stated BitGo CEO Mike Belshe, stressing that the stablecoin combines deep liquidity with regulated, certified custody.
Not like stablecoins that depend on advanced yield-generating mechanisms, USD1 prioritizes transparency and safety. WLFI needs the stablecoin to be a trusted possibility for establishments seeking to interact with DeFi whereas making certain full collateral backing.
“USD1 offers what algorithmic and nameless crypto tasks can not—entry to the facility of DeFi underpinned by the credibility and safeguards of essentially the most revered names in conventional finance,” stated WLFI co-founder Zach Witkoff.
He added that sovereign buyers and establishments can use USD1 for safe, cross-border transactions with out publicity to further dangers.
