- Trump-backed World Liberty Financial (WLFI) appears to be testing a dollar stablecoin (USD1) on Ethereum and BNB Chain networks.
- Blockchain data shows approximately 3.5 million USD1 tokens in circulation with transactions involving major crypto firms like Wintermute and BitGo.
- WLFI has warned that the USD1 token is not yet available for public trading amid rising interest following Binance founder CZ’s social media acknowledgment.
Blockchain activity suggests that World Liberty Financial (WLFI), the DeFi platform endorsed by U.S. President Donald Trump and his family, may be conducting preliminary tests of a dollar-pegged stablecoin before making it publicly available. The token, labeled World Liberty Financial USD (USD1), has shown transaction activity on both Ethereum and BNB Chain blockchains this month.
Cryptocurrency analysts identified a series of transactions involving the USD1 token on blockchain explorers Etherscan and BscScan. The token was deployed earlier in September, with transaction records showing interactions with addresses connected to major industry players.
According to data from Arkham Intelligence, prominent cryptocurrency trading firm Wintermute and digital asset custodian BitGo have participated in transactions involving the token. Current blockchain records indicate approximately 3.5 million USD1 tokens exist across both Ethereum and BNB Chain networks.
The token gained widespread attention after Changpeng Zhao (CZ), founder of crypto exchange Binance, posted a “welcome” message about the project on BNB Chain to his 10 million followers. CZ later noted that his post had triggered numerous copycat tokens attempting to capitalize on the sudden interest.
In response to the growing speculation, WLFI warned users that USD1 is not currently available for trading and cautioned against potential scams.
WLFI emerged as a noteworthy project in the cryptocurrency space last year when it secured backing from Donald Trump. Led by Zachary Folkman and Chase Herro, the platform aims to create a blockchain marketplace for cryptocurrency borrowing, lending, and liquidity provision with stablecoin functionality. While the project’s stablecoin development has been public knowledge, specific launch details have not been officially announced.
Stablecoins represent one of cryptocurrency’s most rapidly expanding sectors, widely considered a primary use case for blockchain technology. These tokens, typically pegged to the U.S. dollar, serve as trading pairs and facilitate transactions across blockchain networks. Their utility has expanded to everyday payments, international remittances, and savings vehicles, attracting significant interest from venture capital.
The sector has gained additional momentum recently as the Trump administration prioritized stablecoin regulation in its cryptocurrency agenda. Treasury Secretary Scott Bessent has emphasized stablecoins’ importance in maintaining the U.S. dollar’s position as the global reserve currency.
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