The Layer-1 blockchain Aptos has partnered with the Trump family’s World Liberty Financial to issue USD1 stablecoins.
Aptos CEO Avery Ching mentioned that discussions with the Trump-affiliated DeFi project have been ongoing, and they consider Aptos to be among the top technology partners available.
In an interview with Cointelegraph during the TOKEN 2049 conference in Singapore this week, Ching stated that WLFI is developing products for retail, banking, and more for the future. The initial goal is launching a stablecoin that returns yield to the people, he added.
USD1 is set to launch on the Aptos Network on October 6, with widespread ecosystem support. Liquidity pools and incentives will be activated across major Aptos DeFi protocols, such as Echelon, Hyperion, Thala, and Tapp, as well as wallets and exchanges like Petra, Backpack, OKX, OneKey, Bitget Wallet, Nightly, and Gate Wallet.
Ching remarked that World Liberty Finance selected Aptos because it is “incredibly cheap,” with transaction costs of “less than a hundredth of a cent,” and offers “much faster” transactions than other blockchains, typically processing in under half a second.
Competing for Tron’s Market Share
This proof-of-stake Layer-1 blockchain aims to rival Ethereum and Tron in the stablecoin arena.
Tether (USDT) made its debut on Aptos earlier this year and has seen “tremendous growth” over a short time, according to Avery, who anticipates further exponential expansion.
Currently, there is $1.3 billion in USDT on Aptos, compared to $78.6 billion on Tron, and the majority of $94.8 billion on Ethereum, according to Tether.
The current market capitalization of USD1 stands at $2.68 billion, with most of this value residing on the BNB Chain, according to DefiLlama.
Aptos Market Share on the Rise
Aptos still has a significant distance to cover to catch up with industry leaders, holding around just 0.35% of the stablecoin market, according to RWA.xyz. However, it already supports Tether (USDT), USDC (USDC), Ethena USD (USDE), and PayPal USD (PYUSD), processing over $60 billion in monthly transactions, as stated by Avery.
Related: Aptos sees surge in tokenization as asset managers go onchain
Ethereum commands a large portion of the market with a 59% total stablecoin market share, which increases to 69% when including layer-2 and EVM-compatible networks.
Upcoming Products
The Aptos CEO also revealed “Decibel,” a high-performance, decentralized exchange optimized for stablecoins, perpetual contracts, and spot trading, with a testnet scheduled for October and a mainnet launch expected by year-end.
A decentralized storage system called “Shelby,” designed in collaboration with Jump Crypto for real-time social media applications and training data, is anticipated to launch in 2026.
Avery Ching previously led Meta’s “Diem” crypto project prior to joining Aptos, which is supported by renowned venture capital firms, including FTX Ventures, Andreessen Horowitz, Apollo, Franklin Templeton, and Circle Ventures.
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