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Trump-Backed USD1 Stablecoin Selected for $2 Billion Binance Stake Deal

Eric Trump confirms USD1's integration with Tron and teases further partnerships at Token2049 in Dubai.

Eric Trump onstage at Token2049, Dubai (Omkar Godbole/CoinDesk)
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The USD1 stablecoin was quietly launched by the WLF in April this year

Overview

  • World Liberty Financial's USD1 stablecoin will facilitate MGX’s $2 billion purchase of a minority stake in Binance, marking a significant institutional adoption of stablecoins.
  • Eric Trump announced that USD1 will integrate with the Tron blockchain, expanding its ecosystem and utility for cross-border transactions.
  • USD1 is backed by short-term U.S. Treasuries and cash equivalents, with reserves managed by BitGo for transparency and regulatory compliance.
  • The stablecoin was minted on Ethereum and Binance Smart Chain, with plans for future integration into additional blockchain protocols.
  • World Liberty Financial co-founder Zach Witkoff hinted at upcoming DeFi and CeFi partnerships to further establish USD1's role in digital finance.