Binance elevates Trump-backed World Liberty's stablecoin by adding USD1 trading pairs

Binance, the world's largest cryptocurrency exchange, has elevated the status of the stablecoin issued by World Liberty Financial by allowing users to trade tokens like BNB, ETH, and SOL using USD1 trading pairs.

The exchange said on Thursday it is bringing USD1 "into several of the platform's most active spot markets."

Binance also said that within the week, it will be converting all collateral assets backing Binance-Peg BUSD (B-Token) into USD1 at a 1:1 ratio.

"The transition means USD1 will become an integral part of Binance’s updated collateral structure, further embedding the stablecoin within the exchange’s ecosystem," World Liberty said in a statement.

There are nearly $2.8 billion worth of USD1 circulating, according to DeFiLlama data. A large majority of the supply originates from the Abu Dhabi investment firm MGX, choosing to use USD1, earlier this year, to make a $2 billion investment into Binance.

"Binance's expansion of USD1 marks an important moment in WLFI’s effort to make digital US dollar stablecoins available to people everywhere," World Liberty CEO and co-founder Zach Witkoff said in a statement. "By integrating USD1 into liquidity, trading, and collateral systems on the world’s largest exchange, Binance is giving hundreds of millions of users improved access to USD1."

Trump and sons co-founders

President Donald Trump and his three sons are also listed as co-founders of World Liberty Financial, the DeFi protocol that debuted in October 2024.

This past October, Trump pardoned former Binance CEO Changpeng Zhao. That same month, Binance.US denied that political motives played a role in its listing of USD1.

Launched in March, World Liberty's USD1 stablecoin is said to be backed entirely by short-term U.S. government treasury, U.S. dollar deposits, and other cash equivalents.