World Liberty Financial (the project linked to US President Donald Trump) announced its plan to launch a new redeemable stablecoin valued at one dollar, in a move reflecting the increasing interest of the Trump administration in regulating the cryptocurrency sector and enhancing its role in the global financial systems.
According to a statement issued today, Tuesday, the new stablecoin "USD1" will be backed 100% by short-term US Treasury bonds, cash deposits, and other financial alternatives, making it one of the most stable and secure currencies in the market. "BitGo" will be responsible for custody, while the new currency will initially be minted on the "Ethereum" and "Binance Smart Chain" networks, with no official launch date specified.
A stablecoin backed by traditional financial guarantees Zach Weticoff, co-founder of "World Liberty Financial," stated that "USD1" presents a new model for stablecoins by combining the advantages of decentralized finance with the credibility provided by traditional financial institutions. He confirmed that this currency will enable sovereign investors and major financial institutions to execute seamless and secure cross-border transactions.
Increased support from the Trump administration for stablecoins The announcement of this currency coincided with the Trump administration's increased efforts to regulate the cryptocurrency sector and support the role of stablecoins in financial infrastructure. The US Congress is currently studying two bills aimed at giving stablecoins a bigger role in the financial system, reflecting the growing official recognition of them.
Investors are closely monitoring the developments surrounding the launch of the "USD1" coin and its potential impact on the global digital payments market, with expectations that it could be a pivotal step in promoting the widespread adoption of stablecoins.
