World Liberty Financial Launches Stablecoin at Washington Crypto Event

Date: WASHINGTON, D.C.
World Liberty Financial (WLFI), the financial protocol associated with President Donald Trump and his family, introduced its own stablecoin at a crypto event in Washington on Wednesday. Lawmakers were also present to discuss advancements in U.S. policy regarding the cryptocurrency industry.

Donald Trump Jr. participated via video, expressing enthusiasm for the technological advancements in digital assets. “I’m just super excited about what this can mean for the future of banking, for the future of the financial systems,” Trump stated, emphasizing the need for innovation beyond traditional methods.

WLFI announced its USD1 stablecoin this week, which will initially be available on Ethereum and the Binance-linked BNB Chain. This rollout coincides with Congress’s progress on legislation to regulate stablecoins, with many involved lawmakers attending the DC Blockchain Summit hosted by the Digital Chamber.

Zach Witkoff, one of WLFI’s co-founders, stated, “We’re excited for the world to experience our stablecoin,” predicting significant adoption from both retail and institutional sectors. The event provided a platform for the Trump-affiliated company, featuring Republican lawmakers Sen. Tim Scott and Rep. French Hill, who are pivotal in the pending stablecoin legislation that may receive final approval from President Trump.

Rep. Hill noted, “You don’t make permanent change in policy though executive action. That’s why leadership in the Senate and House is crafting a stablecoin regime that can make America the principal home for dollar-backed stablecoins.”
The House is nearing the reintroduction of a market structure bill after 71 Democrats supported advancing similar legislation last year.

Trump Jr. claimed stablecoin use is “just as safe as a bank account, but without all that extra nonsense,” suggesting inefficiencies in traditional banking. “The sky is the limit for this,” he added.

WLFI aims to provide a blockchain platform where users can borrow and lend cryptocurrencies, create liquidity pools, and transact with stablecoins. Witkoff expressed a more expansive vision, stating, “Our goal is for you to be able to walk into your local bodega and buy a ham sandwich using stablecoins.”