A cryptocurrency project related to a former US congressman. Former President Donald Trump has launched a dollar-pegged stablecoin, USD1.
The token was launched in the first week of March and minted on Ethereum as well as the Binance BNB Chain. Overall, there is a total supply of more than $3.5 million of the token.
According to the reports from monitoring platforms such as Etherscan and BscScan, a smart contract for USD 1 has been deployed successfully. World Liberty Financial said the stablecoin isn’t available for trading, even as it launched it. The launch has gained a lot of interest, including comments from ex-Binance CEO Changpeng “CZ” Zhao, who said it is joining the blockchain.
The Guiding and Establishing National Innovation for the United States (GENIUS) Act is currently under consideration by U.S. lawmakers. Stablecoins (GENIUS) Act. The Senate Banking Committee has already passed the legislation, and a full vote on it is likely to occur shortly. The bill could usher in new regulatory regimes in the U.S. that govern the issuance and usage of stablecoins. Additionally, the company World Liberty Financial was launched in September 2024 and has kept its operations guarded. According to reports, Trump and his family members own 60% of the company. So far, the platform has held two public token sales that raised about $550 million.
The launch of USD1 on the BNB Chain has led people to think that Trump may be more involved in crypto. There have been reports of Trump’s family talking to Binance about taking a stake in the exchange. CZ has dismissed rumors of any talks regarding an investment or a presidential pardon for his legal troubles.
Before World Liberty Financial’s first public token sale, US lawmakers may have raised concerns about potential conflicts of interest involving Trump’s crypto ventures. The situation certainly raised eyebrows after Tron Founder Justin Sun committed to investing $30 million. U.S. sanctions shortly after Trump’s inauguration in January 2025. The SEC, after pausing the lawsuit against Sun, further raises doubts regarding the regulatory outlook of the governance on crypto-related enforcement actions.
The stablecoin market is growing rapidly, as per reports, with almost double the number of active stablecoin wallets year overyear. In the first quarter of 2025, the stablecoin market cap crossed the $200 billion mark, as Tether and USD Coin still topped the list.
As World Liberty Financial enters the stablecoin space, its USD1 token could help shape the future of financial transactions via the blockchain. But regulatory questions and political implications loom large over Trump’s deepening involvement in the digital-gold space.
