World Liberty Financial (WLFI), Wherein U.S. President Donald Trump Serves as the "chief crypto advocate," Just Launched its Own Stablecoin

On-chain data showed that the World Liberty Financial USD (USD1) stablecoin only has six holders so far.

KEY POINTS:

* World Liberty Financial (WLFI), the DeFi project co-founded by former U.S. President Donald Trump, has launched its own stablecoin on Ethereum (ETH) and Binance's BNB Chain.

* The stablecoin, known as World Liberty Financial USD (USD1), is designed to be a stable and reliable digital currency for consumers and businesses alike.

* USD1 is now available for trading on major cryptocurrency exchanges.

DeFi project World Liberty Financial (WLFI), where U.S. President Donald Trump serves as the "chief crypto advocate," has just launched its own stablecoin on Ethereum and Binance's BNB Chain, marking a major milestone for the project in the wild cryptocurrency space.

On-chain data showed that the World Liberty Financial USD (USD1) stablecoin now has six holders, with the latest development coming some five months after it was reported that the project was looking to launch a native stablecoin. At the time, WLFI was still working to ensure that the new offering will be safe for consumers.

While news of the new stablecoin has been around for a few days now, WLFI only confirmed its latest move Monday, after former Binance CEO Changpeng "CZ" Zhao said the official USD1 digital coin "is not tradable yet" amid questions about the stablecoin's launch.

Zhao said he was told that many "scammers created coins with the same name" as the WLFI stablecoin since he revealed that the coin's smart contract was deployed 20 days ago.

"USD1 is not currently tradable. Beware of scams and follow us here for all official announcements," the crypto exchange executive stated in a post on X, formerly known as Twitter.

Many scammers created coins with the same name. The official USD1 digital coin is not tradable yet. Be careful out there.

— CZ Binance (@cz_binance) September 10, 2024

WLFI re-shared Zhao's post, indirectly confirming that USD1 is indeed an offering from the DeFi project but also clarifying that the token "is not currently tradable." It did urge crypto users to monitor the WLFI official X handle for official announcements on the stablecoin.

"Is currently not tradable. Beware of scams and follow us here for all official announcements," the DeFi project stated.

Taking a closer look at the USD1 smart contract on BNB Chain, the stablecoin token is named "World Liberty Financial USD Token." The contract address for the stablecoin is 0x96e6A71908e7290708374cEB68A88C80Ed87A808.

The stablecoin is pegged to the U.S. dollar and can be used to carry out various DeFi activities, such as lending, borrowing, and trading. USD1 is also compatible with major cryptocurrency wallets and exchanges.

Trump and his sons, Donald Trump Jr. and Eric Trump, first announced the launch of their new cryptocurrency venture, named World Liberty Financial, in April, aiming to take on Bitcoin and Ethereum with their own cryptocurrency project.

The project's website describes it as a "decentralized cryptocurrency ecosystem" that will offer a wide range of products and services, including a cryptocurrency exchange, a DeFi platform, and a stablecoin.

The project is being led by Trump, who will serve as the "chief crypto advocate," while his sons will serve as executives at the venture.

The post Trump's پروژه, WLFI, Launches Stablecoin on Ethereum and BNB Chain appeared first on iHoDL.com.