Trump family crypto project WLFI to launch stablecoin USD1, initially to be minted on Ether and BSC
March 25 (Bloomberg) - Trump family crypto project World Liberty Financial Inc.(WLFI) has officially announced plans to launch a stablecoin, USD1, which can be exchanged 1:1 for U.S. dollars, will be 100% backed by short-term U.S. government treasury bonds, U.S. dollar deposits, and other cash equivalents, and will initially be minted on the Ether (ETH) and the CEX Smart Chain ( BSC) blockchains, with plans to expand to other protocols in the future, and it is understood that USD1 reserves will be hosted by BitGo.
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