Binance News: WLFI Launches USD1 Stablecoin Fully Backed by U.S. Treasuries

In a move that could reshape the stablecoin landscape, World Liberty Financial Inc. (WLFI) has unveiled its latest innovation, USD1, a stablecoin fully backed by U.S. Treasuries. Here’s what you need to know about this institution-friendly alternative to algorithmic and undercollateralized stablecoins.

WLFI Launches USD1 Stablecoin Backed by U.S. Treasuries

World Liberty Financial Inc. (WLFI) has announced the launch of USD1, a stablecoin redeemable 1:1 for the U.S. dollar and fully backed by short-term U.S. Treasuries, cash deposits, and other equivalents. The stablecoin will initially launch on Ethereum (ETH) and Binance (BNB) Smart Chain, with plans to expand to additional blockchains. WLFI positions USD1 as a stable, institution-friendly alternative to algorithmic and undercollateralized stablecoins, emphasizing transparency with third-party audits ensuring reserves match the token’s circulating supply. This news confirms speculation that WLFI had launched its USD1 stablecoin on BNB Chain, with blockchain analytics detecting interactions between its contract and a wallet linked to Wintermute.

Crypto.com Partners with TMTG for Truth.fi Crypto ETFs

Crypto.com, a Singapore-based cryptocurrency exchange, has announced a non-binding deal with Trump Media and Technology Group (TMTG), the parent company of Truth Social, to launch a series of exchange-traded funds (ETFs) under the Truth.fi brand. The partnership aims to blend some of the best cryptos with securities focused on American industries, specifically energy, manufacturing, and technology firms. This comes just days after Crypto.com and Cronos Labs approved the minting of 70 billion CRO.