Binance says users can now trade tokens such as BNB, ETH, and SOL using the USD1 trading pair.
Article author: RT Watson
Article compiled and sourced from: ME
Key Points
Binance says users can now trade tokens such as BNB, ETH, and SOL using the USD1 trading pair.
USD1 is a stablecoin issued by World Liberty, which is backed by Trump. Abu Dhabi-based company MGX used this stablecoin to invest $2 billion in Binance.
Binance, the world's largest cryptocurrency exchange, has enhanced the status of stablecoins issued by World Liberty Financial by allowing users to trade tokens such as BNB, ETH, and SOL using the USD1 trading pair.
The exchange said on Thursday that it will introduce USD1 to several of its most active spot markets.
Binance also stated that it will convert all collateral assets supporting Binance-Peg BUSD (B-Token) to USD1 at a 1:1 ratio within a week.
“This conversion means that USD1 will become an important part of Binance’s updated collateral structure, further embedding the stablecoin into the exchange’s ecosystem,” World Liberty said in a statement.
According to DeFiLlama data, the current circulating supply of USD1 is close to $2.8 billion. The majority of this supply comes from Abu Dhabi-based investment firm MGX, which earlier this year chose to use USD1 to invest $2 billion in Binance.
“Binance’s expansion of USD1 marks a significant moment in WLFI’s efforts to make digital dollar stablecoins available to people around the world,” said Zach Witkoff, CEO and co-founder of World Liberty, in a statement. “By integrating USD1 into the liquidity, trading, and staking systems of the world’s largest exchange, Binance provides hundreds of millions of users with better access to USD1.”
Trump and his son are co-founders
President Donald Trump and his three sons are also listed as co-founders of World Liberty Financial, a DeFi protocol launched in October 2024.
In October of this year, Trump pardoned former Binance CEO CZ. That same month, Binance.US denied that its USD1 listing was politically motivated.
World Liberty's USD1 stablecoin was launched in March and is reportedly fully backed by short-term U.S. Treasury bonds, dollar deposits, and other cash equivalents.
