Planet Daily News: WLFI announces plans to launch USD1, a stablecoin that exchanges 1:1 with the US dollar. Inspired by President Trump, WLFI is dedicated to creating a decentralized finance (DeFi) protocol. USD1 will be 100% backed by short-term US Treasury bonds, US dollar deposits, and other cash equivalents. Initially issued on Ethereum (ETH) and Binance Smart Chain (BSC), with plans to expand to other blockchains in the future. Each USD1 aims to maintain a value of 1 US dollar, with reserves regularly audited by a third-party accounting firm. WLFI co-founder Zach Witkoff stated that USD1 combines traditional financial credibility with DeFi advantages, providing a safe and efficient cross-border transaction tool for sovereign investors and institutions. Reserves will be managed by BitGo, a global leading digital asset custody institution, with BitGo Prime offering deep liquidity and compliant trading support for institutional clients. BitGo CEO Mike Belshe said that the launch of USD1 is an important advancement in institutional-grade digital assets.