As of April 16, COINOTAG News reports that the Trump family’s cryptocurrency undertaking, WLFI, has successfully launched its USD-backed stablecoin, USD1, on the Binance Smart Chain (BSC), issuing over 113 million USD1. This impressive figure constitutes approximately 90% of the total circulating supply. Currently, USD1 boasts a market valuation nearing 127.8 million USD with a robust 24-hour trading volume approaching 100 million USD. The asset’s total value locked (TVL) across both BNB Chain and Ethereum surpasses 30 million USD.
Recently, USD1 expanded its accessibility by launching a trading pool on Pancakeswap, where the liquidity pool has exceeded 19 million USD. The USD1 TVL on Pancake V3 is **10.95 million USD**, further enhancing its market position. Additionally, the lending platform ListaDao on the BNB Chain introduced the USD1 Vault, enabling a lending limit of 20 million USD for users wishing to borrow USD1 against collateral such as BTCB and WBNB.
Notably, USD1 is entirely backed by government assets, including short-term US Treasury bonds and US dollar deposits, maintaining a 1:1 peg to the US dollar. This stablecoin aims to offer sovereign investors an effective tool for cross-border transactions. Furthermore, USD1 is part of the BNB Chain’s zero gas fee initiative for stablecoin transfers, streamlining transactions for a broader user base. Current data from Dune highlights that stablecoins on the BNB Chain have reached a total market value of 7.2 billion USD.