World Liberty Financial, the cryptocurrency venture founded by Donald Trump Jr. and Eric Trump, announced Tuesday the launch of a new digital token, USD1, a stablecoin pegged to the U.S. dollar.
The rollout comes as the Trump administration and congressional Republicans push for regulatory changes that could benefit the crypto sector, particularly stablecoin issuers. GOP lawmakers are advancing legislation to create a regulatory framework for stablecoins, a step that could further integrate the digital assets market with traditional banking.
According to an announcement posted on Medium, USD1 will be “backed by short-term US government treasuries, US dollar deposits, and other cash equivalents.” The company also offers a separate cryptocurrency, WLFI.
“We’re offering a digital dollar stablecoin that sovereign investors and major institutions can confidently integrate into their strategies for seamless, secure cross-border transactions,” said Zach Witkoff, a co-founder of World Liberty Financial alongside the Trump sons.
Witkoff, whose father, Steve Witkoff, serves as Trump’s special envoy to the Middle East, is scheduled to speak Wednesday at a major crypto conference in Washington. He will appear on a panel with fellow co-founders Zak Folkman, Chase Herro, and Donald Trump Jr.
