World Liberty Financial Mints $205 Million USD1 Stablecoins, Total Supply Reaches $2.4 Billion
World Liberty Financial, associated with the Trump family, minted over $200 million in its USD1 stablecoin on August 20, increasing its total supply to $2.4 billion, the highest since April.
- The minting is for treasury purposes and was announced via social media.
- USD1 has become the sixth-largest stablecoin by market capitalization.
- Tether leads with a 60% market share, followed by Circle's USDC at 24%.
- World Liberty Financial's treasury holdings reached a record $548 million post-mint.
- USD1 comprises 39% of the firm's portfolio, valued at $212 million.
- Plans to create a publicly traded company for WLFI tokens and raise $1.5 billion are underway.
Federal Reserve Governor Christopher Waller praised stablecoins shortly after the minting, emphasizing their potential in enhancing the dollar's international role and improving payments.