World Liberty Financial (WLFI), the decentralized financial project that is tailored to US President Donald Trump, has now revealed the details about his plan to release USD1, a stabilecoin in the US dollar.
According to a March 25 announcementUSD1 is first launched on Ethereum and Binance Smart Chain, planned with further blockchain integrations.
The digital active is designed to maintain a fixed $ 1 value and is supported by a reserve of American treasury accounts, Fiat currency deposits and other short-term casual quotes.
WLFI said that the support of the Stablecoin will be independently verified by regular audits carried out by an external audit firm.
In the meantime, WLFI confirmed that Bitgo, a regulated and independent custodian, will keep and manage the reserves of the USD1. This setup would ensure that institutional customers receive safe, insured and regulated access to the Stablecoin.
This development is the heels of a WLFI warning about counterfeit versions of the USD1 token that circulates online. At the time, the protocol emphasized that the Stablecoin had not yet been launched on trading platforms.
However, it was unclear whether the Stablecoin became publicly available after the latter announcement.
Challenge USDT and USDC -Dominance
Stablecoins enable users to protect funds against volatility, transfer value across borders and access to dollar -like assets in regions with currency restrictions.
According to Defillama Data, the combined market capitalization of the Stablecoin sector of the time of the press of the press of the press and market observers expect the industrial effector to continue to flourish.
USD1 therefore comes into a competitive market that is dominated by established players such as Tether’s USDT and Circle’s USDC.
However, WLFI co-founder Zach Witkoff believes that USD1 offers a clear advantage over these rivals. He emphasizes his hybrid foundation, which combines decentralized financing with the supervision and credibility of traditional financial institutions.
According to him:
“USD1 offers what algorithmic and anonymous crypto projects cannot … We offer a digital dollar stablecoin that can integrate sovereign investors and large institutions into their strategies for seamless, safe cross-border transactions.”
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