USD1 (USD1)

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Historical price evolution of USD1

Daily historical data. Updated automatically.

USD1 has its origins in World Liberty Financial (WLFI), a company that presented itself publicly in August 2024. WLFI was co-founded by Zachary Folkman, Chase Herro, Zach Witkoff and Alex Witkoff (sons of property magnate and Trump advisor, Steven Witkoff), alongside members of the Trump family. In the corporate structure, Donald Trump appeared as "Chief Crypto Advocate" whilst his sons Eric, Donald Jr. and Barron assumed roles as "Web3 Ambassadors". A Trump family entity owned 60% of WLFI with rights to 75% of net revenues from token sales. In October 2024, WLFI carried out its official launch with the first round of WLFI token sales.

On 25th March 2025, WLFI officially announced USD1, a stablecoin pegged to the US dollar backed by short-term US Treasury bills, dollar deposits and cash equivalents. Custody of the reserves fell to BitGo Trust Company, deploying simultaneously on Ethereum and BNB Smart Chain. According to Zach Witkoff's statement, the stablecoin was designed for sovereign investors and institutions that required access to DeFi with backing from "the most respected names in traditional finance".

In May 2025 the event occurred that defined USD1's initial growth. MGX, Abu Dhabi sovereign fund chaired by Sheikh Tahnoon bin Zayed Al Nahyan (Deputy Governor of Abu Dhabi and national security advisor of the United Arab Emirates), used 2,000 million USD in USD1 to finance an investment in Binance. This operation elevated USD1's circulating supply from practically zero to more than 2,000 million USD in a single transaction, making it according to multiple analysts the fastest-growing stablecoin in the sector's history. Economists specialised in governmental ethics publicly criticised the conflicts of interest arising from a serving president being beneficiary of a financial product integrated into regulated systems.

In June 2025, WLFI and PancakeSwap launched a "Liquidity Drive" programme with prizes of up to 1 million USD to incentivise USD1 trading volume. The Wall Street Journal reported that more than 90% of USD1 volume was generated on PancakeSwap, driven by this incentive programme and not by organic demand. On 18th July 2025, President Trump signed the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), the first federal stablecoin regulation law in the US. In October 2025, Reuters published that the Trump family obtained hundreds of millions of dollars from WLFI in the first half of 2025, with total crypto revenues exceeding 800 million USD in that period.

In December 2025, WLFI announced that Binance would convert the backing assets of its BUSD stablecoin (in the process of closure) to USD1, raising USD1's circulating supply above 3,000 million USD. By December, the Trump family had obtained approximately 1,000 million USD in profits from the project, maintaining 3,000 million USD in unsold tokens. In January 2026, WLTC Holdings LLC filed an application with the OCC to establish World Liberty Trust Company, a national trust bank dedicated to the issuance, custody and conversion of USD1 under federal supervision. Simultaneously, the government of Pakistan signed a memorandum of understanding with SC Financial Technologies to explore the use of USD1 in cross-border payments.

Before Trump's inauguration in January 2026, it was revealed that Tahnoon bin Zayed Al Nahyan had acquired 49% of WLFI for 500 million USD days before the event, without WLFI publicly disclosing this operation or reporting that two affiliates of Tahnoon (Martin Edelman and Peng Xiao from G42) had been incorporated into WLFI's board. On 12th January 2026, WLFI launched World Liberty Markets, its first crypto lending and borrowing product, operated by Dolomite on Aave V3 infrastructure. In April 2026, CoinDesk reported that WLFI used 5,000 million of its own governance tokens as collateral to borrow 75 million USD from a platform whose co-founder was advisor to WLFI, generating comparisons with FTX's circular economy. By April 2026, USD1's circulating supply reached 4,600 million USD.

USD1 functions as a fully-backed stablecoin pegged to the US dollar, deployed on the Ethereum and BNB Smart Chain networks. For every USD1 token in circulation, World Liberty Financial (WLFI) maintains one dollar in reserves held in custody by BitGo Trust Company, composed of short-term US Treasury bills, dollar bank deposits and cash equivalents. Unlike algorithmic stablecoins that rely on automated arbitrage mechanisms to maintain their value, USD1 derives its stability exclusively from this fiat backing in regulated custody, eliminating dependence on on-chain algorithms to preserve the dollar peg.

USD1's economic model concentrates the benefits of reserve yields with WLFI, whilst token holders do not receive direct interest. WLFI estimates that with 2,000 million USD1 in circulation, the protocol can generate approximately 80 million dollars annually by investing the reserves in government bonds and money market funds. Users can acquire and sell USD1 through decentralised exchanges such as Uniswap on Ethereum and PancakeSwap on BNB Chain, with plans for future expansion to the Tron network. The protocol's governance operates through a separate token called WLFI, with a maximum supply of 100,000 million units and a concentrated distribution that allocates 33.5% to the team and advisors, including 22,500 million tokens reserved for the Trump family entity. At the time of writing, USD1 does not have independent public audits that verify its reserves on a continuous basis, which constitutes a risk factor to consider. WLFI's circulating supply exceeds 27,000 million tokens in 2025.

Data verified against external sources. Some values may have changed since the last update.