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Trump’s World Liberty Financial to Launch USD1 Stablecoin

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Donald Trump’s World Liberty Financial venture announced plans to launch a new dollar-pegged stablecoin, USD1, which will be fully backed by U.S. Treasuries, dollars, and other cash equivalents to maintain a value of $1. The move follows the venture’s successful raise of over $550 million from the sale of a separate digital token, $WLFI.

Stablecoins like Tether and USDC have become crucial players in the crypto industry, with over $237 billion in circulation. These tokens facilitate transactions between cryptocurrencies and provide liquidity in the market. USD1 aims to tap into this growing market and offer “sovereign investors and major institutions” a secure means of conducting cross-border transactions, according to World Liberty co-founder Zach Witkoff.

The reserves for USD1 will be audited by a third-party firm, although World Liberty has not disclosed further details. The stablecoin will initially launch on the Ethereum and Binance Smart Chain blockchains, with future plans to expand to other platforms. The firm also revealed its partnership with BitGo, a California-based custodian, to handle the reserves and provide institutional clients access to liquidity.

Trump’s crypto interests, including the launch of USD1 and a meme coin earlier this year, have raised concerns among ethics experts about potential conflicts of interest, especially as he has pledged to overhaul U.S. regulations on crypto. Despite this, the initiative aims to compete with established stablecoins in the market, such as Tether and USDC.

Trump Media Partners with Crypto.com to Launch ETFs Through Truth.Fi

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Trump Media & Technology Group, the company behind the Truth Social platform, announced on Monday that it has partnered with Crypto.com to launch exchange-traded funds (ETFs) and related products under its Truth.Fi brand. This collaboration is aimed at offering financial products that include both digital assets and traditional securities with a “Made in America” focus.

Following the announcement, Trump Media’s shares rose 10.5% in after-hours trading, though the company’s stock has fallen 38% over the past three months.

The ETFs, which will be available through Crypto.com’s broker-dealer Foris Capital, are expected to include cryptocurrencies like bitcoin and cronos, alongside securities from various industries. These funds are slated for launch later this year and will be offered in the U.S., Europe, and Asia.

Crypto.com will provide key infrastructure, including backend technology, custody services, and cryptocurrency support for the ETFs.

The partnership follows the January launch of Trump Media’s Truth.Fi brand, signaling the company’s expansion into financial services and fintech, particularly in the cryptocurrency space. Trump Media had previously announced plans to invest up to $250 million through Charles Schwab to diversify its cash holdings, which stood at over $700 million at the end of 2024. This new venture includes investments in ETFs, separately managed accounts, and cryptocurrencies.

Trump Media also revealed in February that it has applied for trademarks for several investment products, including the Truth.Fi Bitcoin Plus ETF, Truth.Fi Made in America ETF, and Truth.Fi U.S. Energy Independence ETF, which focus on sectors like bitcoin, U.S. manufacturing, and energy.

Sam Altman’s World Network in Talks with Visa for Stablecoin Wallet

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Sam Altman’s cryptocurrency project, World Network, is reportedly in discussions with Visa to develop a stablecoin payments wallet. According to CoinDesk, a deal would integrate Visa card functionality into World Network wallets, allowing stablecoin-based payments at merchants within Visa’s network.

This collaboration highlights the growing efforts to incorporate cryptocurrency into the mainstream payments system, with both companies aiming to expand the use of digital assets in everyday transactions. Visa and Tools for Humanity, the company behind World Network, have yet to respond to requests for comment.

World Network, co-founded by OpenAI’s Sam Altman, primarily offers World ID, a digital passport designed to verify a user’s identity as a real human, distinguishing them from AI chatbots.