Wlfi's usd1 Stablecoin Takes Center Stage In $2 Billion Binance Deal

In Dubai, at TOKEN2049, Eric Trump announced a $2 billion investment deal between Abu Dhabi's MGX and Binance. The deal will be settled in USD1, a stablecoin issued by World Liberty Financial (WLFI). This marks a significant moment for USD1, highlighting its high-profile institutional use. Trump emphasized that USD1, launched in March, is backed by short-term U.S. Treasuries and cash equivalents, aiming for transparency. The deal grants MGX a minority stake in Binance. This positions USD1 as a potential model for institutional stablecoin adoption, especially with regulatory clarity. WLFI also announced USD1's integration into the Tron network, alongside the Binance deal. Tron's speed and low fees have facilitated the rise of stablecoins like Tether's USDT, with over $70 billion in circulation. WLFI aims to replicate this success, targeting institutional partnerships and regulatory compliance to compete with Tether and Circle.