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World Liberty Financial Inc. (WLFI) is set to introduce USD1 a stablecoin pegged 1:1 with the US dollar. This new cryptocurrency will be fully backed by short-term US government treasuries and US dollar deposits offering a secure and reliable alternative in the DeFi space. Initially launching on Ethereum and Binance Smart Chain blockchains WLFI plans to expand to other protocols in the future.
USD1 will maintain a consistent value of $1 supported by a reserve portfolio audited by a third-party firm. WLFI emphasizes that this digital dollar offers the benefits of decentralized finance with the credibility and safeguards of traditional finance institutions. It aims to provide sovereign investors and major institutions a secure solution for cross-border transactions.
BitGo the world’s leading independent custodian will hold USD1 reserves. By partnering with BitGo WLFI ensures that USD1 is both secure and efficient providing institutional clients with access to liquidity and trading services while safeguarding their assets under regulated custody.
