World Liberty Financial (WLFI) Introduces USD1, a U.S. Dollar-Pegged Stablecoin

World Liberty Financial (WLFI), backed by Donald Trump and his relatives, has introduced USD1, a U.S. dollar-pegged stablecoin, aiming to provide a safe digital currency for institutions and investors.

Donald Trump's relatives are among the backers of World Liberty Financial (WLFI), which has unveiled USD1, a U.S. dollar-pegged stablecoin designed for institutions and investors.

The cryptocurrency, which will be fully collateralized by short-term U.S. government bonds, U.S. dollar deposits, and other cash equivalents, is aiming to provide a safe and trusted digital currency, merging the strengths of decentralized finance (DeFi) with the credibility of traditional finance.

Institutions and investors will be able to use USD1 for cross-border transactions, trading on decentralized exchanges, and participation in DeFi protocols, all while benefitting from the stability and liquidity of the U.S. dollar.

"We are aiming to create a digital currency that can be used by everyone, everywhere," said Ben Marrache, CEO of WLFI. "Our goal is to provide a truly global and inclusive financial system."

Earlier this year, WLFI completed the token sale for its World Token I, raising over $550 million in contributions from institutions and investors around the world. Among the notable investors are Justin Sun, the founder of Tron, and several family members of the former president of the United States.

The funds raised will be used to develop and launch USD1, as well as other projects that aim to promote financial freedom and opportunity.

As part of the venture, a group of organizations linked to the Trump family may be awarded up to 75% of the venture's net earnings for a period of five years, according to a filing with the Securities and Exchange Commission (SEC).

The administration of the former president has taken a keen interest in cryptocurrencies, previously announcing plans to form a Strategic Bitcoin Reserve, and placing an emphasis on the potential of digital assets to revolutionize the financial industry.

The launch of USD1 also comes as the stablecoin market continues to expand, with new projects and innovations emerging constantly.

If successful, USD1 could be a key factor in driving further adoption of cryptocurrencies among traders and institutions, who are increasingly looking for stable and reliable digital currency options for trading and DeFi transactions.