Trump-Backed World Liberty Financial Confirms Dollar Stablecoin Plans With BitGo

World Liberty Financial Inc. (WLFI), a Trump-aligned decentralized finance platform, has officially confirmed plans to launch its dollar-pegged stablecoin, USD1.

The token will be fully backed by U.S. treasuries, cash deposits, and cash equivalents and will be custodied by BitGo, an institutional digital asset firm.

The announcement follows market speculation that intensified earlier in the day, when blockchain observers noticed a smart contract for "USD1" had been deployed on BNB Chain nearly three weeks ago.

On-chain data indicated that market maker Wintermute had run test transfers using the token.

Former Binance CEO Changpeng Zhao highlighted the deployment, prompting several imitators to issue unofficial USD1-themed meme coins.

WLFI later confirmed on X that “USD1 is not currently tradable” and warned users about scams.

USD1 will launch on Ethereum ETH/USD and Binance Smart Chain BNB/USD initially, with plans to expand across additional blockchain networks.

Also Read: Strategy Aims For More Bitcoin With ‘Strife’ Stock: How Does It Work?

According to WLFI, each token will maintain a 1:1 peg to the U.S. dollar and be supported by regularly audited reserves.

“USD1 provides what algorithmic and anonymous crypto projects cannot—access to the power of DeFi underpinned by the credibility and safeguards of traditional finance,” said WLFI co-founder Zach Witkoff.

In a statement, BitGo CEO Mike Belshe added, "Our clients demand both security and efficiency. This partnership with WLFI delivers both—deep liquidity with the assurance that reserves are held within regulated, qualified custody."

WLFI said USD1 will not incorporate complex yield-generating mechanisms, a design choice aimed at eliminating risk and promoting clarity for institutional investors.

The launch comes amid growing political and financial backing for WLFI.

The Trump-affiliated project, which raised over $590 million by selling its governance token WLFI, has attracted attention from prominent crypto players, including Tron TRON/USD founder Justin Sun, who is serving as an advisor.

Trump-linked entity DT Marks DEFI, LLC is also set to receive 75% of WLFI’s protocol revenue.

Read Next: