World Liberty Financial, a company linked to former U.S. President Donald Trump’s family, has issued stablecoins worth $128 million. These tokens were created on the BNB Chain and Ethereum platforms.
Overview of USD1 Stablecoins
On April 14, World Liberty Financial minted USD1 tokens worth $128.07 million. According to information shared by BNB Chain, nearly 90% of these tokens were issued on BNB, with the remainder on Ethereum. Additionally, USD1 launched a liquidity pool on BNB-based PancakeSwap, which currently holds $19 million in assets. The total value locked of USD1 across BNB and Ethereum amounts to $30 million.
Benefits of Using BNB Chain
BNB Chain clarified that it is not directly involved with USD1, but acknowledged that the stablecoin could benefit from BNB's existing liquidity and infrastructure. The platform provides advantages such as fast transaction processing, cost efficiency, and support for the DeFi ecosystem.
BNB Chain's Responses on Stablecoins
In discussions with representatives from BNB Chain, it was emphasized that user education is the first line of defense against fraud. The platform offers resources to help users identify potential risks and encourages thorough analysis before engaging with any token or project.
The USD1 stablecoins from World Liberty Financial represent an important step in the adoption of blockchain technologies. The choice of BNB Chain as the main platform underscores the growing significance of this ecosystem for new projects in the cryptocurrency market.
