Eric Trump Announces USD1 Stablecoin for MGX’s $2 Billion Binance Investment
MGX, a UAE investment firm, plans to invest $2 billion in Binance using the USD1 stablecoin from World Liberty Financial. This announcement was made by Eric Trump at the Token2049 Dubai event.
- USD1 is linked to Donald Trump and will be the official stablecoin for this investment.
- The investment marks one of the largest in the crypto sector.
- USD1, launched in March 2025, is backed by US Treasuries and cash equivalents.
- It aims to facilitate secure cross-border transactions.
- Trump stated it would be among the most transparent and regulated stablecoins globally.
- USD1 will be available on the Tron blockchain, supported by Justin Sun.
- Zach Witkoff hinted at upcoming collaborations to establish USD1 as a preferred stablecoin in DeFi and CeFi ecosystems.
DWF Labs recently invested $25 million in World Liberty Financial’s governance tokens (WLFI) to expand into the US market.