Binance elevates Trump-backed World Liberty’s stablecoin by adding USD1 trading pairs
Binance is adding USD1 trading pairs and converting BUSD collateral to USD1, integrating the stablecoin into its ecosystem.Summary
Binance, the world's largest cryptocurrency exchange, has significantly elevated the status of World Liberty Financial's stablecoin, USD1, by enabling trading pairs for BNB, ETH, and SOL against it. Furthermore, Binance announced it will convert all collateral assets backing Binance-Peg BUSD (B-Token) to USD1 at a 1:1 ratio within the week, embedding USD1 into the exchange's collateral structure. World Liberty Financial, whose co-founders reportedly include Donald Trump and his sons, stated this integration provides hundreds of millions of users improved access to USD1. The USD1 stablecoin, backed by short-term U.S. government treasuries and cash equivalents, currently has nearly $2.8 billion in circulation, much of which stems from a $2 billion investment into Binance by the Abu Dhabi firm MGX earlier this year.
(Source：The Block)