Binance Lists USD1, a U.S. Dollar-Pegged Stablecoin Issued by World Liberty Financial (WLFI)

Binance has announced the listing of USD1, a U.S. dollar-pegged stablecoin issued by World Liberty Financial (WLFI), on its spot trading platform.

Binance, the renowned cryptocurrency exchange, is set to introduce USD1, a stablecoin pegged to the U.S. dollar and issued by World Liberty Financial (WLFI), to its spot trading platform. Trading for the USD1/USDT pair is set to commence later today, at 12:00 UTC on May 22, according to an official announcement by the exchange.

As reported by Coin Edition previously, USD1 will become available for withdrawal at 20:00 Beijing time (12:00 UTC) on May 23. The listing of USD1 on Binance follows its integration on major exchanges such as Bybit, Bittrex, and FTX, showcasing the rapid adoption and expansion of the stablecoin.

Within three months of its launch, USD1 has already ascended to the seventh-largest stablecoin by market capitalization, further highlighting its significant demand and popularity. The token is backed 1:1 by a combination of cash holdings, short-term U.S. Treasury securities, and U.S. dollar bank deposits, providing stability and trustworthiness to users.

World Liberty Financial, a Miami-based financial technology company, is the issuer of USD1, while BitGo Trust Company, a U.S.-regulated entity, is responsible for issuing and managing the token.

In another development, WLFI is planning to airdrop USD1 tokens to eligible holders of its WLFI token. A governance proposal was published on May 7 and subsequently approved, with 6.8 billion votes being cast in favor of the airdrop.

Details regarding eligibility and distribution of the airdrop will be provided in an upcoming announcement by the company.

The token’s rapid growth and the political affiliations of its backers have drawn attention from U.S. lawmakers. Senate Democrats have expressed concerns about WLFI’s ties to President Donald Trump, who holds the title of “Chief Crypto Advocate” at the firm. Trump’s sons have also been named as “Web3 Ambassadors.”

These political links are drawing attention particularly as discussions around comprehensive stablecoin regulation remain a hot topic in Washington, with legislative efforts like the GENIUS Act still pending approval. The GENIUS Act, recently advanced by the U.S. Senate, aims to establish a federal framework for stablecoins, covering reserves, audits, and compliance.

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