Aptos, a Layer-1 blockchain, has revealed a partnership with the Trump family’s World Liberty Financial to launch USD1 stablecoins.
Aptos CEO Avery Ching mentioned that discussions with the Trump-associated DeFi project have been ongoing, and they regard Aptos as a top-tier tech partner.
In an interview with Cointelegraph at the TOKEN 2049 conference in Singapore this week, Ching indicated that WLFI is developing products for retail, banking, and more in the future. The primary goal is to establish a stablecoin that provides returns to the people.
USD1 is set to launch on the Aptos Network on Oct. 6, with extensive ecosystem support. Liquidity pools and incentives will be activated through leading Aptos DeFi protocols like Echelon, Hyperion, Thala, and Tapp, while wallets and exchanges such as Petra, Backpack, OKX, OneKey, Bitget Wallet, Nightly, and Gate Wallet will also back the launch.
Ching noted that World Liberty Finance selected Aptos for its low costs—“less than a hundredth of a cent” per transaction—and its speed, with transactions completing in under half a second.
Targeting Tron’s Market Share
The proof-of-stake layer-1 blockchain aims to rival Ethereum and Tron in stablecoin deployment.
Tether (USDT) was launched on Aptos at the start of the year and has seen “tremendous growth” in a brief timeframe, according to Avery, who anticipates further exponential growth.
At present, there is $1.3 billion in USDT on Aptos, compared to $78.6 billion on Tron and $94.8 billion on Ethereum, according to Tether.
The current market capitalization of USD1 stands at $2.68 billion, with most of it on the BNB Chain, according to DefiLlama.
Aptos’s Market Share Increases
Aptos still has a considerable distance to cover to compete with industry giants, holding only a stablecoin market share of approximately 0.35%, according to RWA.xyz. However, it currently supports Tether (USDT), USDC (USDC), Ethena USD (USDE), and PayPal USD (PYUSD), processing over $60 billion in monthly transactions, said Avery.
Related: Aptos witnesses a surge in tokenization as asset managers transition to on-chain assets
Ethereum dominates the market with a 59% share of total stablecoins, which rises to 69% when including layer-2 and EVM-compatible networks.
Upcoming Products
The Aptos CEO also unveiled “Decibel,” a high-performance, decentralized exchange tailored for stablecoins, perpetual contracts, and spot trading, with a testnet expected in October and a mainnet launch scheduled for later this year.
A “hot decentralized storage” solution named “Shelby” was also introduced, designed in collaboration with Jump Crypto for real-time social media applications and training data, with a launch anticipated in 2026.
Avery Ching previously led Meta’s “Diem” crypto initiative before joining Aptos, which enjoys backing from notable venture capital firms such as FTX Ventures, Andreessen Horowitz, Apollo, Franklin Templeton, and Circle Ventures.
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