World Liberty Financial (WLFI), the decentralized finance protocol backed by the president of the United States, Donald Trump and his family, confirmed on Tuesday his plans to launch a stable backed by the US dollar.
USD1 is anchored to $ 1 and will be completely supported by the United States government values, deposits in US dollars and other cash equivalents. The reservations will be guarded in Bitgo, while Bitgo Prime, the company’s brokerage service will provide liquidity for the token.
The stablecoin will be available for the first time in Ethereum and BNB Chain, with plans to expand to other networks, the protocol said.
The announcement occurred after cryptographic observers caught the attention to test transactions with a token called World Liberty Financial Usd (USD1) in Ethereum and BNB Chain, with Bitgo and the Wintermute market manufacturer involved in transfers.
“USD1 provides what algorithmic and anonymous cryptographic projects cannot: access to the power of defi backed by credibility and safeguards of the most respected names in traditional finances,” said Zach Witkoff, co -founder of WLFI. “We are offering a digital dollar stable that sovereign investors and the main institutions can be integrated with confidence in their strategies for cross -border transactions without problems and safe.”
WLFI, a project headed by Zachary Folkman and Chase Herro, caused a splash last year as one of the first cryptographic projects that enjoy Trump’s support. The protocol aims to provide a blockchain -based market where users can borrow and lend cryptocurrencies, create liquidity groups and perform transactions with stablocoins.
