WLFI Unveils Plans to Launch USD1 Stablecoin Tied to US Dollar
World Liberty Financial Inc. plans to launch USD1, a stablecoin pegged to the US dollar, redeemable 1:1 for USD. Key details include:
- Backed by short-term US Treasury securities, bank deposits, and liquid assets.
- Available on Ethereum and Binance Smart Chain, with more networks planned.
- Real-world reserves will be regularly audited by independent firms.
- Aims to bridge DeFi and traditional finance, attractive to institutional investors.
- Avoids complicated strategies, focusing on clarity and consistency.
- Witkoff states USD1 offers security unmatched by algorithm-based tokens.
- Part of a broader ecosystem promoting financial freedom and decentralized governance.
- Emphasizes regulatory clarity and simplicity in its approach.
USD1 seeks to enhance adoption of decentralized finance tools globally and provide a reliable option for cross-border transactions.