World Liberty Finance Launch US dollar-pegged Stablecoin
The stablecoin is a derivative of the US dollar, US treasuries, and other cash equivalents
World Liberty Finance (WLFI) has officially introduced a US dollar-pegged stablecoin, marking a significant advancement for the cryptocurrency market. The arrival of USD1 was announced by the decentralized finance protocol (DeFi) on Tuesday.
According to World Liberty Finance, the stablecoin is a derivative of the US dollar, US treasuries, and other cash equivalents
It will now compete with some of the largest stablecoins available.
US President Donald Trump urged Congress to enact stablecoin legislation. This appeal has been a crucial aspect of his presidency and has drawn considerable attention to the digital asset industry. Since his return to office, Trump has sought to restructure the country’s crypto policy, accomplishing significant progress in under three months.
Now introduced by World Liberty Financial, the USD1 stablecoin was inspired by US President Trump, continuing that legacy beyond the Oval Office. The asset, which aims to compete with some of the most prominent digital currencies, was revealed by the DeFi protocol.
“USD1 provides access to the strength of DeFi, supported by the legitimacy and protection of the most reputable names in traditional finance—something algorithmic and anonymous crypto projects cannot offer,” stated Zach Witkoff, co-founder of WLFI.
He continued, “We’re delivering a digital dollar stablecoin that major institutions and sovereign investors can confidently incorporate into their strategies for smooth, safe cross-border transactions.” This action was taken as the stablecoin market continues its rapid growth, with the industry’s market capitalization surpassing $230 billion this week.
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