World Liberty Financial’s Stablecoin Selected for MGX’s $2 Billion Binance Investment
Eric Trump announced that World Liberty Financial's dollar-denominated stablecoin (USD1) has been chosen as the official stablecoin for MGX’s $2 billion investment in Binance at the Token2049 event in Dubai.
Key points include:
- USD1 will integrate with the Tron ecosystem, backed by billionaire Justin Sun.
- MGX’s $2 billion investment is one of the first institutional investments in Binance.
- World Liberty Financial plans to launch USD1 with BitGo.
- USD1 aims to be a transparent and regulated stablecoin, backed by short-term treasury and cash equivalents.
- Future partnerships and DeFi integrations are planned to establish USD1 as a preferred stablecoin in both DeFi and CeFi ecosystems.
Zach Witkoff emphasized efforts to integrate USD1 into traditional retail point-of-sale systems.