title: World Liberty Financial Launches USD1 Stablecoin on BNB Chain

World Liberty Financial, a decentralized finance platform tied to the Trump family, has launched its USD1 stablecoin on BNB Chain.

World Liberty Financial (WLFI), a decentralized finance (DeFi) platform with ties to the Trump family, has launched its USD1 stablecoin on BNB Chain, blockchain analytics firm LookOnChain has revealed.

According to LookOnChain, the stablecoin contract was deployed about 20 days ago by WLFI. The analysis firm also identified interactions between the USD1 contract and a wallet linked to crypto market maker Wintermute, suggesting test transfers of 100,000 USD1.

While the launch has been observed by blockchain analytics firms, neither WLFI nor the Trump family have yet to make an official statement regarding the USD1 launch.

However, the USD1 contract is publicly visible on BNB (BNB) Chain’s blockchain explorer.

A stablecoin is a type of cryptocurrency designed to maintain a stable value, often pegged to a traditional currency like the U.S. dollar. This contrasts with other cryptos, which are known for their volatility. Stablecoins’ consistent value makes them useful for various purposes such as payments and trading.

By launching USD1, WLFI appears to be entering the competitive space of dollar-backed digital assets. Stablecoin legislation is a hot-topic issue right now in the crypto space, with U.S. President Biden aiming to introduce legislation for a digital dollar by the year-end.

WLFI has positioned itself as a platform aiming to promote U.S. dollar-backed stablecoins in the crypto space. The launch of USD1 adds to the growing ecosystem of stablecoins on BNB Chain, as WLFI continues expanding its presence in the DeFi sector.