Trump’s World Liberty Financial crypto venture to launch stablecoin

From brecorder.com

Donald Trump’s World Liberty Financial crypto venture will launch a dollar-pegged stablecoin, it said in a statement on Tuesday, after raising more than half a billion dollars from selling a separate digital token. The stablecoin, called USD1, will be fully backed by US Treasuries, dollars and other cash equivalents and is designed to keep a value of $1, World Liberty said in the statement. Dollar-pegged stablecoins such as Tether and USDC have ballooned in recent years and now act as a key cog in the multi-trillion dollar crypto trading industry, helping move funds between different cryptocurrencies or into ... (full story)