Key Points
- USD1 tokens will be minted on Ethereum and BNB Chain with expansion plans.
- USD1 reserves will be custodied by BitGo.
In an official press release, the Trump family-backed crypto project World Liberty Financial (WLFI) announced plans to launch USD1, a stablecoin redeemable 1:1 for the USD.
Meet USD1 — the stablecoin your portfolio’s been waiting for.
Built for institutions and retail alike. Backed by dollars. Custodied by BitGo.
No games. No gimmicks. Just real stability.https://t.co/vXPbZe0GPn— WLFI (@worldlibertyfi) March 25, 2025
USD1 Official Details
WLFI’s USD1 will be 100% backed by:
- Short-term US government treasuries
- USD deposits
- Other cash equivalents
The project’s press release also noted that, initially, USD1 tokens will be minted on Ethereum (ETH) and Binance’s BNB Chain, with plans to expand to other blockchains in the future.
Each USD1 token will maintain the value of $1, fully backed by a reserve portfolio audited regularly by a 3rd party accounting firm.
USD1 reserves will be custodied by BitGo, the world’s largest independent qualified custodian and leader in crypto security, custody, and liquidity.
BitGo Prime will support USD1 as well, offering institutional clients access to deep liquidity and trading from insured and regulated custody.
BitGo Prime is BitGo’s prime brokerage service.
USD1 has the following main benefits:
- Prioritizes stability via a conservative approach
- Avoids complex yield-generating mechanisms
- Offers clarity and security required for global institutional adoption
Offering Access to DeFi Power
Zach Witkoff, WLFI‘s co-founder, said that USD1 will provide something that algorithmic and anonymous crypto projects cannot offer – access to DeFi power mirrored by the credibility and safeguards of the most respected names in traditional finance.
WLFI will offer a digital dollar stablecoin that sovereign investors and well-established institutions can integrate into their strategies with confidence for seamless and secure cross-border transactions.
A Significant Advancement in Institutional-Ready Digital Assets
Mike Belshe, BitGo’s CEO, said that the launch of USD1 is an important milestone in the advancement of institutional-ready assets.
He also highlighted the benefits of the partnership with WLFI:
- Security
- Efficiency
- A combination of deep liquidity with the assurance that reserves are held securely and managed according to regulations
