Donald Trump has officially dropped a stablecoin.

It's called USD1, and it's pegged 1:1 with the US dollar

Donald Trump's family company World Liberty Financial Inc. (WLFI) has officially dropped a stablecoin. It’s called USD1 and it’s pegged 1:1 with the US dollar.

The company says the token is fully backed by short-term US government treasuries, USD deposits, and other cash equivalents. Every token equals one dollar, no exceptions. WLFI says it quickly assembled a team of experts in accounting, legal, and blockchain fields to build a stablecoin people can trust. They say they didn't cut corners and put in long hours to make sure the token is fundamentally sound and operates flawlessly.

The company adds that it really cares about giving people a stablecoin they don’t have to second guess. That's why they chose to go the extra mile with independent audits from a third-party accounting firm, which will provide assurance on the token's economics and the reserve structure.

The token will launch on Ethereum and Binance Smart Chain, with plans to hit other blockchains shortly.

"We are launching USD1 to offer a digital dollar that sovereign investors and major institutions can confidently integrate into their strategies for seamless, secure cross-border transactions in a manner that optimizes liquidity and minimizes friction," said WLFI co-founder Zach Witkoff.

"There are no risky yield strategies or unbacked promises. Rather, 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."

Institutions can use BitGo for liquidity and custody

For liquidity and custody services, WLFI picked BitGo, which manages billions in crypto on behalf of institutional clients.

"The launch of USD1 marks a significant advancement in institutional-ready crypto products and services," said Mike Belshe, CEO of BitGo. "Our clients demand both security and efficiency, and this partnership combines deep liquidity with the assurance that reserves are securely held and managed within regulated qualified custody."

"We are able to offer this through our flagship service, BitGo Prime, which provides institutions with a single point of access to crypto markets and best-in-class execution capabilities."

The company says it's not aiming this coin at casual traders. It's focused on institutions and sovereign investors who need a way to move large sums without touching traditional rails.

"We are focused on offering a token that is fundamentally sound, operates flawlessly, and provides complete transparency to all stakeholders," said Ivan Bogatyrev, Chief Accounting Officer at WLFI.

"The audits will be conducted in accordance with generally accepted accounting principles (GAAP) and will cover all aspects of the USD1 token, including its issuance, distribution, and reserves."

WLFI claims its whole structure is inspired by Trump. The project was designed and assembled with his name and approach in mind.

"We are building a governance platform and a full DeFi protocol that people can really use, with less friction and greater financial inclusion," said Trump.

"Our vision is to create tools that will empower people to participate more fully in the financial system, without relying on centralized middlemen or complex technical jargon."

The company says it wants to make tools that remove the friction from crypto, and give people access to financial systems without depending on centralized middlemen.