Trump family crypto project WLFI to launch stablecoin USD1, initially to be minted on Ether and BSC
March 25 (Bloomberg) - Trump family crypto project World Liberty Financial Inc.(WLFI) has officially announced plans to launch a stablecoin, USD1, which can be exchanged 1:1 for U.S. dollars, will be 100% backed by short-term U.S. government treasury bonds, U.S. dollar deposits, and other cash equivalents, and will initially be minted on the Ether (ETH) and the CEX Smart Chain ( BSC) blockchains, with plans to expand to other protocols in the future, and it is understood that USD1 reserves will be hosted by BitGo.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
eToro files with US SEC to list on Nasdaq, plans to raise $400m
The dollar index fell 0.07 per cent on 25
Pump.fun deposits over 54,000 SOLs to CEX for about $7.81 million
Trending news
MoreCrypto prices
More
