World Liberty Financial Inc. has discreetly introduced its USD1 stablecoin, which is now operational and actively traded on Ethereum and Binance Smart Chain, despite the absence of an official launch announcement.
As reported by various platforms, USD1’s trading volume has jumped over 6,700% in the last 24 hours, currently exceeding $140 million—just a few days after its unannounced launch. The market capitalization of USD1 is around $128 million. The stablecoin’s logo has also begun appearing on both Binance and popular tracking websites.
Blockchain experts first detected a USD1 smart contract being deployed on the Binance Smart Chain on March 24. Initially, this activity seemed confined to test transactions, including interactions with wallets associated with the crypto market maker Wintermute. On March 25, WLFI acknowledged the plans for USD1, although no specific launch date or exchange listing was mentioned.
The actual mainnet soft launch appears to have occurred around April 12, when the first liquidity pools for USD1 were established on platforms like Uniswap V3 and PancakeSwap V3.
Nevertheless, WLFI has not yet officially announced any listings on centralized exchanges. This low-key launch strategy seems intentional, allowing WLFI to gauge market interest and test its infrastructure in practical scenarios.
The links between Trump and USD1—a stablecoin backed by U.S. Treasuries, cash, and equivalents with BitGo serving as the reserve custodian—have sparked concerns among lawmakers and financial analysts.
During an April 2 hearing of the House Financial Services Committee on stablecoin regulation, Democratic Representative Maxine Waters expressed her suspicion that Trump might aim to use USD1 for governmental transactions, suggesting a potential substitute for the U.S. dollar.
“Trump likely wants the entire government to use stablecoins, from payments made by the Department of Housing and Urban Development to Social Security payments to paying taxes. And which coin do you think Trump would replace the dollar with? His own, of course.”
Mateusz Kara, CEO of Ari10, opined that Trump’s endorsement of USD1 leans less towards a genuine embrace of crypto and more towards establishing a new avenue for distributing U.S. debt globally.
“I don’t quite believe in Trump’s sudden love for stablecoin and blockchain,” Kara remarked in a statement. “The real goal of bolstering the stablecoin market is to create a new, appealing market for U.S. bonds.”