World Liberty Financial (WLFI), at which President Trump and his sons Donald Jr., Eric, and Barron hold leadership positions, has launched a new crypto venture.

WLFI introduced USD1, a U.S. dollar-pegged stablecoin “inspired by President Donald J. Trump.”

World Liberty Financial (WLFI), where President Trump and his sons Donald Jr., Eric, and Barron hold leadership positions, has launched a new crypto venture.

Announced on Monday, WLFI introduced USD1, a U.S. dollar-pegged stablecoin “inspired by President Donald J. Trump.” The token will launch on Ethereum and Binance Smart Chain, with plans for broader deployment. Each token is designed to maintain a 1:1 value with the U.S. dollar, supported by reserves that will be regularly audited by a third-party accounting firm.

“USD1 provides what algorithmic and anonymous crypto projects cannot — access to the power of decentralized finance underpinned by the credibility and safeguards of the most respected names in traditional finance,” said co-founder Zach Witkoff.

“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.”

The stablecoin’s reserves will be custodied by BitGo, a leading regulated digital asset custodian. BitGo Prime will also support USD1, offering access to liquidity and trading from “insured and regulated qualified custody.”

The company clarified that USD1 will not offer interest to holders. Instead, it adopts a conservative approach, avoiding “complex yield-generating mechanisms” typically found in riskier decentralized finance products.

Along with USD1, WLFI is presenting its second token, WLFI. Just days before Trump’s inauguration, both Donald and Melania Trump launched their own memecoins, $TRUMP and $MELANIA, respectively, further expanding the family’s crypto footprint.

Trump administration focused on bitcoin and stablecoins

Since taking office, President Trump has issued an Executive Order positioning stablecoins as a key pillar of his crypto strategy. On March 6, he ordered the creation of a “strategic bitcoin reserve and U.S. digital asset stockpile.”

The goal is to strengthen America’s position in the global digital currency race while leveraging seized Bitcoin as a strategic financial asset. The order says, in part:

Despite significant technological and economic advancements in recent years, the United States lags in the development and deployment of digital assets.

The rapid emergence of central bank digital currencies (CBDcs) around the world underscores the urgency for the United States to maintain its leadership role in the global financial system.

After seven years of planning, the president finally ordered the administration to begin mopping up crypto dust with a presidential executive order. It directs the Treasury Secretary, in consultation with other relevant officials, to consider and recommend potential methods and modalities for efficient, transparent, and verifiable administration of a U.S. whole-sale central bank digital currency.

The order also directs the administration to explore the potential for introducing a U.S. digital currency, considering factors such as economic growth, technological innovation, and U.S. leadership in the global financial system.

It further directs the administration to identify and recommend any legislation that may be necessary to facilitate the development and deployment of a U.S. digital currency.

Finally, the order directs the administration to develop a strategy for minimizing the risk posed by the development and deployment of digital currencies to the U.S. financial system and broader economy.

The president also ordered the administration to develop a strategy for maximizing the opportunities presented by digital currencies for economic growth, technological innovation, and U.S. leadership in the global financial system.

Insiders view this as a crucial step toward launching a U.S. central bank digital currency.

Now, bills are moving through Congress (see here and here) aiming to codify the executive order. They would mandate Federal Reserve acquisitions of Bitcoin and formalize a national digital asset reserve.

GENIUS Act advances quickly despite concerns

In addition to the Bitcoin bills, there’s the GENIUS Act (pdf), which stands for Growing and Enriching New Technologies Through Useful, Relevant, and Innovative Means. Advanced by the Senate Banking Committee on March 13, it marks Washington’s biggest move yet to regulate crypto. But not everyone’s cheering.

The bill creates a legal path for stablecoins, either through federal or state licenses. It separates stablecoins from securities and commodities, shielding issuers from the U.S. Securities and Exchange Commission. But in exchange, it layers them in compliance: audits, registrations, and reserve mandates.

Issuers with more than $1 billion in deposits or liabilities would fall under federal oversight. Smaller issuers, as well as those applying for state licenses, would remain with the state.

On paper, it looks like a step toward clarity. In practice, it’s programmable money in a government-sanctioned shell. It normalizes stablecoins as financial infrastructure, while reinforcing the dollar’s central role.

Critics say these controls won’t just “protect consumers.” They’ll enable monitoring, permissioning, and control, just like banks — only faster, and digital by default.

The GENIUS Act may legitim