Trump-Backed World Liberty Financial Unveils USD1 Stablecoin, But Trading Remains on Hold
World Liberty Financial, a cryptocurrency venture backed by U.S. President Donald Trump, introduced its USD1 stablecoin on March 4, yet the asset remains “not currently tradeable.” The company’s latest initiative, a U.S. dollar-pegged digital currency, debuted with a total supply exceeding $3.5 million.
Blockchain data from Etherscan and BscScan confirm that the World Liberty Financial USD (USD1) token was deployed in early March on both the Ethereum and BNB Chain networks. Former Binance CEO Changpeng “CZ” Zhao highlighted this deployment, while World Liberty Financial reiterated that the stablecoin is currently non-tradable.
The USD1 stablecoin launch coincides with ongoing legislative efforts surrounding digital assets. U.S. lawmakers are currently reviewing the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which recently advanced past the Senate Banking Committee on March 13. A full floor vote is expected soon.
Bo Hines, executive director of the President’s Council of Advisers on Digital Assets, anticipates that the GENIUS Act will reach President Trump’s desk by June. Since the inception of World Liberty Financial in September 2024, the firm’s operational details have largely remained undisclosed. According to its website, Trump and his family members hold a controlling 60% equity stake in the company. As of March 14, the firm has completed two public token sales, collectively raising $550 million.
The project’s launch on the BNB Chain follows reports suggesting that Trump’s family engaged in discussions with Binance regarding a potential equity stake and a separate proposal involving a presidential pardon for Zhao. CZ has denied any involvement in such negotiations. The project has previously faced scrutiny from U.S. lawmakers, particularly regarding potential conflicts of interest as Trump campaigns for office.
Following Trump’s election victory, Tron founder Justin Sun pledged a $30 million investment in World Liberty Financial, later securing an advisory role within the company. After Trump assumed the presidency on January 20, the Securities and Exchange Commission (SEC) under acting chair Mark Uyeda requested a federal court to pause its case against Sun to “explore a potential resolution.” Sun and three affiliated companies were previously accused of selling unregistered securities. Other crypto executives and firms that financially supported Trump and Republican candidates in 2024—such as Coinbase and Ripple—have also seen their SEC enforcement cases dropped under Uyeda’s leadership.
The introduction of USD1 comes amid a significant expansion of the stablecoin market. Data from blockchain analytics platforms Artemis and Dune indicate a 50% increase in active stablecoin wallets between February 2024 and February 2025. Additionally, total stablecoin market capitalization surpassed $200 billion in January, with Tether (USDT) and USD Coin (USDC) remaining dominant players in the sector.