World Liberty Financial (WLFI), a DeFi project backed by President Trump and his sons, has tested a new stablecoin called USD1

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President Trump and his sons' DeFi project, World Liberty Financial (WLFI), has tested a new stablecoin called USD1 on the BNB Chain, on-chain data tracked by Lookonchain shows.

Crypto trader Y shared an analysis of the public wallet belonging to crypto liquidity provider Wintermute, showing several test transfers of USD1. The wallet was also spotted testing cross-chain technology between Ethereum and BNB Chain networks.

This was later confirmed by Binance co-founder Changpeng "CZ" Zhao, who shared a snapshot of a conversation with a user on the Binance Telegram group.

Announced last October by Decrypt, WLFI was in the process of developing its native stablecoin. At the time, sources close to the project said the team was focused on ensuring safety and reliability before launching the stablecoin to the market.

The project's co-founder, Zak Folkman, recently spoke about the completion of $550 million in token sales earlier this month. In a statement following this milestone, Folkman said these sales were just the beginning.

During a recent conversation with Chainlink co-founder Sergey Nazarov, Folkman said to expect “really big announcements” in the next couple of weeks.

World Liberty Financial has partnered with blockchain protocols like Chainlink and Aave to facilitate its DeFi endeavors and integrate decentralized oracle services.

“In terms of what we’re building, I would say that we have three main products that we’re actually building and developing. Two of which are already done and ready to ship,” Folkman said.

While he didn't disclose the first product, Folkman mentioned that the other two are a lend-and-borrow market powered by smart contracts and a protocol focused on real-world assets (RWAs).

“We’re just working on staging so that we can really get through our entire product roadmap and roll it out in a way that’s meaningful and makes sense,” he added.

Unlike traditional DeFi lending platforms that are governed by decentralized autonomous organizations (DAOs), World Liberty Financial will oversee its lending market through its own governance processes. This allows the company to retain control and adapt the platform to suit the needs of its users, especially TradFi institutions.