Summary
- Coinbase has introduced the World Liberty Financial stablecoin, USD1.
- World Liberty Financial is supported by President Donald Trump and his sons.
- Though a stablecoin like USD1 is unlikely to experience price fluctuations, the listing may enhance World Liberty’s exposure.
The USD1 stablecoin from World Liberty Financial—a venture supported by President Donald Trump and his sons—is now available for trading on Coinbase, as announced on Thursday.
The largest U.S. crypto exchange revealed the listing in a Thursday update on X. Eric Trump, the president’s son and co-founder of World Liberty, later shared it and mentioned that more news regarding the crypto project would be available “very soon.”
Decrypt attempted to contact WLF for comments but did not receive a response immediately.
Coinbase informed Decrypt that they listed the coin to “meet the demands of our customers.” American users can now trade USDC, Tether’s USDT, USD1, PYUSD, USDS, PAX, and DAI stablecoins on Coinbase.
In March, Decrypt reported that World Liberty had introduced its stablecoin. Typically, a stablecoin is a digital asset connected to the value of the U.S. dollar, although it can also link to other stable assets like different fiat currencies or gold.
Prior to the USD1 listing, Coinbase supported the two primary stablecoins, USDT and USDC, along with smaller tokens.
This announcement coincides with a surge of activity in the stablecoin market, following the introduction and approval of the GENIUS Act, which set standards for the issuance and trading of stablecoins in the U.S. Recently, several major financial service firms and other organizations have initiated or expressed interest in stablecoin projects.
Stablecoins play a crucial role in the crypto market, allowing traders to quickly engage in digital asset transactions. Digital tokens streamline the trading mechanism compared to using US dollars through conventional banking channels.
USD1 is intended for use on World Liberty Financial, a decentralized finance (DeFi) platform announced in 2024. The platform, based on Ethereum and built upon the Aave protocol, aims to offer crypto borrowing and lending services but has not yet launched publicly.
Alongside the USD1 stablecoin, World Liberty has also rolled out its native token, WLFI. This token is not currently available for trading, though its holders voted in July to enable buying and selling of the Ethereum-based token.
Democratic legislators have criticized World Liberty and its association with President Trump, primarily regarding the use of USD1 for a $2 billion investment from the Abu Dhabi sovereign fund MGX into leading crypto exchange Binance.
Even some Republicans have indicated that Trump’s various crypto ventures—including World Liberty and his personal Solana meme coin—have complicated the progression of crypto legislation in Washington.
Nevertheless, the House and Senate ultimately approved the GENIUS Act stablecoin legislation, which Trump signed into law in July.
Editor’s note: This article has been updated to include a more extensive list of stablecoins supported by Coinbase.
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