Gate, a leading cryptocurrency exchange, and World Liberty Financial (WLFI) announced a significant milestone in the adoption of USD1, a USD-backed stablecoin.
Growth of USD1 Holdings on Gate
According to on-chain data, Gate has become the second largest holder of USD1 among all centralized exchanges, trailing only Binance. Currently, Gate holds approximately $170 million USD1 on BNB Smart Chain and an additional $20 million USD1 on Ethereum.
User Participation in IKA Launchpad
The launch of IKA token on Gate Launchpad on July 26 has sparked significant interest from users, contributing to the increase in USD1 holdings. During the campaign, users contributed over 200 million USD1 and 5.33 million GT, totaling approximately $97.5 million.
Brief Information about USD1 and WLFI
USD1 is a USD-backed stablecoin issued by WLFI, providing transparent and regulated access to digital dollars across multiple blockchains, backed 1:1 by short-term US government treasuries and other cash equivalents.
The collaboration between Gate and WLFI highlights the importance of building an open and compliant PayFi ecosystem that bridges traditional financial assets with next-generation decentralized infrastructure.
