In what is a major development for the cryptocurrency market, US President Donald Trump’s World Liberty Financila (WLFI) has officially launched a US dollar-pegged stablecoin. Indeed, the decentralized finance protocol (DeFi) announced the arrival of the USD1 on Tuesday.
The protocol called the asset the “stablecoin your portfolios have been waiting for.” Moreover, in a press release issued by the entity, the asset is backed 100% by US government treasuries, US dollar deposits, “and other cash equivalents.” It is now set to compete with some of the biggest stablecoins on the market.
JUST IN: 🇺🇸 President Trump's World Liberty Financial launches dollar-pegged stablecoin, $USD1.
— Watcher.Guru (@WatcherGuru) March 25, 2025
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Trump’s World Liberty Financial Announces US Dollar-Pegged Stablecoin
Less than a week ago, US President Donald Trump urged Congress to pass stablecoin legislation. Indeed, the call was a key part of his administration. Specifically, it has placed a strict focus on the digital asset sector. In his return to the White House, Trump has sought to overhaul the nation’s crypto policy. In less than three months, he has made good on those efforts.
Now, the US President Trump-inspired World Liberty Financial has launched its US dollar-pegged stablecoin, the USD1. In doing so, it has carried that legacy onward outside of the Oval Office. The DeFi protocol announced the asset that will look to compete with some of the most prominent digital currencies.
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“USD1 provides what algorithmic and anonymous crypto projects cannot—access to the power of DeFI underpinned by the credibility and safeguard of the most respected names in traditional finance,” WLFI co-founder Zach Witkoff said.
“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,” he added. The move comes as the stablecoin market has continued to surge. Specifically, this week saw the industry market cap surpass the $230 billion mark.