World Liberty Financial Launches USD1 Stablecoin on TRON Blockchain
World Liberty Financial (WLFI) has launched its USD1 stablecoin on the TRON blockchain. Key points include:
- USD1 is pegged 1:1 to the U.S. dollar.
- Designed for cross-border transactions and DeFi services.
- Backed by U.S. Treasury instruments, dollar deposits, and cash equivalents, with custody managed by BitGo.
- Previously active on Ethereum and Binance Smart Chain.
- Partnership with Kernel DAO enables USD1 staking for passive income.
- Major investors, including UAE-backed MGX, are interested in using USD1 for a $2 billion Binance deal.
- USD1 is now the seventh-largest stablecoin globally.
- Launch raises scrutiny over conflicts of interest due to ties with Donald Trump and Chinese blockchain connections.