The World’s Largest Crypto Exchange Adds Support for President Trump’s Decentralized Finance Project

The world’s largest crypto exchange by trading volume, Binance, has announced its support for an asset linked to President Donald Trump’s new decentralized finance project, World Liberty Financial (WLFI).

Binance Adds Support for World Liberty Financial USD (USD1)

Binance has revealed that it will be adding support for the stablecoin World Liberty Financial USD (USD1), a dollar-pegged digital asset managed by BitGo. This move will see USD1 being integrated into various Binance platforms including Binance Simple Earn, ‘Buy Crypto,’ Binance Convert, and Binance Margin starting May 22nd.

USD1, which maintains a 1:1 peg to the US dollar, was launched in March and recently formed a partnership with Chainlink (LINK), a decentralized oracle provider. This collaboration allows USD1 to be seamlessly transferred across multiple blockchains using Chainlink’s Cross-Chain Interoperability Protocol (CCIP).

Partnership with Chainlink

WLFI co-founder Zach Witkoff emphasized the significance of the partnership with Chainlink, stating that it will enhance USD1’s utility for cross-border payments and facilitate the development of practical applications in both DeFi and traditional finance. The collaboration aims to create a robust financial platform that will drive innovation and improve the overall financial landscape.

USD1 currently boasts a market capitalization of $2.1 billion, while LINK is valued at $16.82 with a 4.4% increase in the last 24 hours.

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