World Liberty Financial quietly launches USD1 stablecoin

World Liberty Financial Inc. has discreetly introduced its USD1 stablecoin, marking a significant step in its decentralized finance ambitions.

The USD1 is designed to maintain a one-to-one peg with the US dollar, offering stability in a volatile crypto landscape.

The stablecoin, now trading on Ethereum and Binance Smart Chain, emerged without a formal announcement, catching the attention of blockchain enthusiasts.

USD1’s launch aligns with a broader push by the Trump family-backed firm to carve a niche in the rapidly growing stablecoin market.

What is the USD1 stablecoin?

USD1 is a stablecoin that is fully backed by US Treasuries, cash, and equivalents, with BitGo serving as the reserve custodian.

This backing aims to ensure stability and trust, distinguishing USD1 in a competitive field dominated by giants like Tether’s USDT and USDC.

Regular third-party audits of the reserve portfolio are planned, though the auditing firm remains undisclosed.

The stablecoin’s design avoids complex yield mechanisms, prioritizing clarity for institutional and retail users alike.

Its availability on Ethereum and Binance Smart Chain positions it for broad accessibility, with potential expansion to other blockchains in the future.

The quiet launch of USD1

The origins of the USD1 stablecoin trace back to late March, when blockchain analysts detected smart contract deployments on Binance Smart Chain.

Initial testnet transactions involved wallets linked to crypto market maker Wintermute, hinting at preparatory groundwork.

World Liberty Financial confirmed its intent to launch USD1 on March 25, though it withheld specifics on timing or exchange listings.

This quiet rollout appears intentional, allowing the firm to assess market dynamics and infrastructure resilience.

So far, no centralized exchange listings have been announced, suggesting a focus on decentralized platforms for now.

USD1’s trading activity soaring

The trading activity for USD1 has surged dramatically since its debut.

Data from CoinMarketCap reveals a staggering 6,700% increase in 24-hour trading volume, reaching over $140 million.

The stablecoin’s market capitalization has climbed to approximately $128 million, reflecting strong early adoption.

Notably, this bullish momentum is fueled by liquidity pools on decentralized exchanges like Uniswap V3 and PancakeSwap V3, which were activated around April 12.