World Liberty Financial (WLFI), a prominent crypto project associated with US President Donald Trump, recently announced the minting of approximately 10% of its USD1 stablecoin supply, totaling $205 million, for its Treasury. This move solidifies the stablecoin’s position in the market, as it is backed 1:1 by USD and US Treasuries.
The transaction, which took place on Ethereum according to DeFiLlama data, increased the total USD1 supply to $2.4 billion, making it the sixth-largest stablecoin by market capitalization. The breakdown of issuance includes $2.1 billion on BNB Chain, $293 million on Ethereum, and $25 million on Tron.
Arkham Intelligence data reveals that WLFI’s treasury now holds over $464.8 million in various digital assets, with a significant portion allocated to USD1. Other notable holdings include AETHUSDT, AETHWETH, USDC, and AETHWSTETH, among others.
In an effort to boost adoption of USD1, WLFI has launched the USD1 Points Program, which rewards users for driving adoption across exchanges. This initiative aims to incentivize users who contribute to the stablecoin’s growth directly, a unique approach in the crypto space.
Previous distributions of USD1 to wallets that participated in WLFI’s token sale have already laid the foundation for increased market adoption. The stablecoin has been utilized in institutional transactions, such as settling a $2 billion investment on Binance and facilitating proceeds for Bullish Exchange’s IPO.
Overall, WLFI’s strategic initiatives and growing utility in the market position USD1 as a stablecoin to watch in the evolving crypto landscape. With a focus on rewarding users for adoption and expanding its use cases, USD1 is poised for continued growth and recognition among major market participants.