The largest cryptocurrency exchange, Binance, has broadened its listings by adding more trading pairs associated with the Trump family’s stablecoin.
Binance announced on Thursday that it is extending support for World Liberty Financial’s USD1 stablecoin by introducing fee-free trading pairs for major tokens, including Ether (ETH), Solana (SOL), and BNB (BNB), along with the already listed Bitcoin (BTC).
The exchange also stated it would convert all collateral assets backing its stablecoin, BUSD, into USD1 at a 1:1 ratio within a week.
“This transition signifies that USD1 will be a key element of Binance’s revised collateral structure, further integrating the stablecoin within the exchange’s ecosystem,” Binance mentioned.
Enhanced access to USD1 on Binance
Zach Witkoff, co-founder and CEO of World Liberty Financial, commended the initiative, saying, “Binance’s extension of USD1 represents a significant milestone in WLFI’s mission to provide digital US dollar stablecoins to people globally.”
USD1 is backed by US Treasury bills and was launched on Ethereum and BNB Chain in March.
It has ascended to become the seventh-largest stablecoin with a market cap of $2.7 billion, strengthened by Abu Dhabi’s investment firm, MGX, opting to use USD1 for a $2 billion investment in Binance in May.
Nevertheless, there has been no new issuance of USD1 for several months, and the supply has slightly decreased from its peak of $3 billion in late October, per CoinGecko.
Related: World Liberty Financial contemplates $1.5B public company to hold WLFI tokens
Trump recently pardons Binance founder
Alongside his sons, President Donald Trump is a co-founder of World Liberty Financial and granted a pardon to Binance founder Changpeng Zhao seven weeks ago.
Zhao was sentenced to four months in prison in April 2024 after admitting to not implementing an adequate Anti-Money Laundering (AML) program at Binance.
Trump stated he pardoned Zhao after receiving support from “many people” who told him “what he did is not even a crime.”
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