Coinbase announced that it will list USD1, World Liberty Financial’s stablecoin. Yesterday, the firm minted over $200 million USD1 tokens, creating ample supply for new customers.
As the GENIUS Act was signed into law, President Trump sees a key policy role for stablecoins in increasing global dollar dominance, and USD1’s growing integration is contributing.
Coinbase’s USD1 Listing
USD1 is a growing component of President Trump’s crypto empire. In just four months of launch, the stablecoin has a market cap of more than $2.4 billion. For comparison, Ripple’s more popular stablecoin, RLUSD, only has a market cap of around $660 million, even though it was launched earlier.
It’s safe to say that the Trump family’s involvement in the project has boosted its growth. Although Trump’s involvement with private enterprise has earned a lot of pushback, issuer World Liberty Financial keeps growing.
Today, Coinbase announced that it would add USD1 to its Listing Roadmap.
Coinbase isn’t the first major exchange to list USD1. The stablecoin has been on Binance for several months now.
However, reports have alleged that Binance was directly involved in the stablecoin’s creation, so this partnership seems natural.
A Coinbase listing, by contrast, represents more of a breakthrough.
Coinbase also claimed that USD1 would exclusively be available on the Ethereum blockchain. Around an hour later, trading capabilities went live. This fast rollout could fuel a wave of sudden retail hype and corresponding inflows.
World Liberty Financial’s Stablecoin Expansion
Yesterday, World Liberty Financial minted over $200 million worth of its stablecoin. This event seems especially relevant for USD1’s Coinbase listing, as there’s now an ample new token supply for potential buyers.
This minting event exists in the context of a broader trend: World Liberty has been heavily investing in DATs over the last few weeks. The firm’s initial launch announcement claimed that it would back USD1 with various “cash equivalents,” presumably including cryptoassets, but the GENIUS Act mandates that reserves be held in US Treasury bonds.
Yesterday, World Liberty claimed that this requirement has been fulfilled, but this may have caused a little turmoil behind the scenes. With unrealized losses from the firm’s crypto portfolio and scrutiny over its newest business partners, this Coinbase listing can put USD1 and World Liberty on the right track.
President Trump has planned for stablecoins to play a key role in US dollar dominance, and USD1 is a component of that plan. This business development could therefore have several positive effects for Trump’s overall aims.
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