The largest crypto exchange in the world has broadened its offerings to include additional trading pairs associated with the Trump family’s stablecoin.
Binance announced on Thursday that it has increased support for World Liberty Financial’s USD1 stablecoin by adding fee-free trading pairs for prominent tokens, including Ether (ETH), Solana (SOL) and BNB (BNB), alongside its existing Bitcoin (BTC) listings.
The exchange stated it will also convert all collateral assets backing its stablecoin, BUSD, into USD1 at a ratio of 1:1 within a week.
“This transition will integrate USD1 into Binance’s updated collateral framework, further solidifying the stablecoin’s role within the exchange’s ecosystem,” Binance commented.
Enhancing USD1 Access on Binance
Zach Witkoff, co-founder and CEO of World Liberty Financial, commended the initiative, saying, “The expansion of USD1 by Binance signifies a pivotal moment in WLFI’s mission to provide digital US dollar stablecoins to individuals globally.”
USD1, which is underpinned by US Treasury bills, was launched on Ethereum and BNB Chain in March.
It has ascended to the position of the seventh-largest stablecoin, boasting a market cap of $2.7 billion, thanks to a decision by Abu Dhabi’s investment firm, MGX, to utilize USD1 for a $2 billion investment in Binance back in May.
However, there has been no new issuance of USD1 for several months, and the supply has slightly dipped from its high of $3 billion in late October, as reported by CoinGecko.
Related: World Liberty Financial considers a $1.5B public company to manage WLFI tokens
Trump Recently Pardoned Binance Founder
President Donald Trump, alongside his sons, is a co-founder of World Liberty Financial and pardoned Binance founder Changpeng Zhao seven weeks ago.
Zhao received a four-month prison sentence in April 2024 after admitting guilt for not establishing an adequate Anti-Money Laundering (AML) program at Binance.
Trump mentioned that he pardoned Zhao following encouragement from many who believed “what he did is not even a crime.”
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