Trump Family Enters Stablecoin Market! WLFI to Launch USD1 – Can Political Influence Win Market Confidence?
TradingKey - The Trump family's crypto project WLFI announces upcoming USD1 stablecoin launch, potentially reshaping the stablecoin landscape.
On Tuesday, World Liberty Financial Inc. (WLFI)—the Trump family's cryptocurrency initiative—officially announced plans to launch USD1, a dollar-pegged stablecoin fully backed 1:1 by short-term U.S. Treasury bonds, dollar deposits, and other cash equivalents.
USD1 will initially launch on Ethereum (ETH) and Binance Smart Chain (BSC), with plans to expand to additional public blockchains in the future. The stablecoin's reserves will be custodied by BitGo, the global leader in digital asset security, custody, and liquidity solutions.
According to CoinMarketCap, there are currently over 200 stablecoins in existence with a combined market capitalization of $230 billion. USDT lead the market with a valuation of $144 billion, followed by USDC at $60 billion.
In this saturated and oligopolistic market, new stablecoins typically struggle to gain meaningful market share. However, USD1 may prove to be an exception—as evidenced by the complete sell-out of WLFI tokens prior to launch.
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