World Liberty Financial, the crypto venture backed by President Donald Trump , has launched a USD-pegged stablecoin.

A stablecoin is a type of cryptocurrency that attempts to maintain a stable value by being pegged to a relatively stable asset such as a fiat currency or a commodity.

Called USD1, the stablecoin has been launched on both the Ethereum chain and Binance’s BNB Chain . The project’s smart contract was deployed on both chains 20 days ago.

On March 24, Binance’s founder and former CEO Changpeng “CZ” Zhao welcomed the stablecoin project on the BNB chain.

Notably, the U.S. Senate Banking Committee approved the Guiding and Establishing National Innovation for U.S. Stablecoins or GENIUS bill on March 13.

The bill aims to provide the first federal regulations for stablecoins and is supposed to reach a Senate vote in a matter of weeks. If approved, it would legalize the issuance and trading of stablecoins in the U.S.

As per DefiLlama , the market capitalization of the stablecoin market stood at $232.38 billion as of March 24. The total stablecoin market grew by 63% from $138 billion to $225 billion between February 2024 and February 2025, as per a recent report .

As far as World Liberty Financial is concerned, it is a decentralized finance (DeFi) protocol. The project was co-founded by Trump’s old friend and Middle East envoy Steve Witkoff and his sons Zach and Alex in September 2024.

While Trump acts as the chief crypto advocate at the crypto venture, his sons Eric , Donald Jr., and Barron act as Web3 ambassadors.