Finance, Binance, World Liberty Financial, Stablecoin, Top Stories, News Eric Trump additionally stated that USD1 might be built-in with the Tron ecosystem.
Eric Trump, son of U.S. President Donald Trump, stated that World Liberty Financial’s greenback denominated stablecoin (USD1) has been formally chosen because the official stablecoin to shut MGX’s $2 billion funding in Binance.
Speaking on the Token2049 occasion in Dubai, Trump additionally introduced that USD1 might be integrating with the Tron ecosystem, which is backed by billionaire Justin Sun.
Earlier this yr, Abu Dhabi-based investment firm MGX put $2 billion to purchase a stake in Binance, marking one of many first institutional funding on the planet’s largest change.
The Trump-family backed World Liberty Financial, announced its plans for launching a dollar-backed stablecoin with BitGo in March.
“USD1 will become one of the most transparent and regulated stablecoin in the world. It is backed by short term treasury and cash equivalent, not only do we want to create a product in our stable point USD, one that can be sent across borders in a very seamless way, but transparency and frankly, consumer safety is paramount, right?” Trump added.
World Liberty’s co-founder, Zach Witkoff, talking on the similar occasion teased extra future partnerships for the DeFi protocol.
“We have a lot on the way at World liberty, so stay tuned. We’re working on, you know, a lot of different DeFi integrations. Right now, we do aim to establish USD1 as the preferred stablecoin in the DeFi and CeFi ecosystem. Working really hard on, you know, getting integrations into traditional retail point of sale systems,” Witkoff stated.
UPDATE (May 1, 2025, 09:50 UTC): Adds extra remark from Zach Witkoff on World Liberty.
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