Trump keeps the crypto news coming with stablecoin announcement
It’s a busy day for Trump-related financial announcements. World Liberty Financial (WLFI), the Trump family-backed DeFi crypto project, announced it will launch a stablecoin, with “no games. No gimmicks. Just real stability.”
The dollar-pegged stablecoin will be “100% backed by short-term US government treasuries, US dollar deposits, and other cash equivalents.”
The firm plans to mint the tokens on both ethereum and Binance Smart Chain, “with plans to expand to other protocols in the future.”
BitGo will custody the reserves.
Zach Witkoff, WLFI cofounder, said in a press release:
“We’re offering a digital dollar stablecoin that sovereign investors and major institutions can confidently integrate into their strategies for seamless, secure cross-border transactions.”
The news comes on the heels of Trump Media & Technology Group saying it’s partnered with Crypto.com to launch a slew of ETFs via the Truth.Fi fintech brand. DJT soared on the news and is up 9% as of 11:00 a.m. ET.
Truth.fi was launched in January and filed several trademarks for “America-first” ETFs in February.
The dollar-pegged stablecoin will be “100% backed by short-term US government treasuries, US dollar deposits, and other cash equivalents.”
The firm plans to mint the tokens on both ethereum and Binance Smart Chain, “with plans to expand to other protocols in the future.”
BitGo will custody the reserves.
Zach Witkoff, WLFI cofounder, said in a press release:
“We’re offering a digital dollar stablecoin that sovereign investors and major institutions can confidently integrate into their strategies for seamless, secure cross-border transactions.”
The news comes on the heels of Trump Media & Technology Group saying it’s partnered with Crypto.com to launch a slew of ETFs via the Truth.Fi fintech brand. DJT soared on the news and is up 9% as of 11:00 a.m. ET.
Truth.fi was launched in January and filed several trademarks for “America-first” ETFs in February.
