Trump Family Cryptocurrency Company Launches Stablecoin.
World Liberty Financial Plans to Launch USD1 Stablecoin
The USD1 stablecoin will be pegged to the US dollar and will be a cryptocurrency that provides price stability by pegging to assets such as fiat currency, reports The Hill.
World Liberty Financial, which was founded by the Trump family last September during the presidential campaign, has become a supporter of the cryptocurrency industry.
Last week, World Liberty Financial announced that it had raised $550 million from the sale of tokens and the profit percentage could reach 75% for the Trump-associated company.
President Trump and First Lady Melania Trump launched tokens known as meme coins just days before the inauguration.
Trump Media and Technology Group, which owns the Truth Social platform, announced a partnership with Crypto.com to launch a series of exchange-traded funds (ETFs).
The ETFs will include digital assets and securities with a focus on the US market, particularly in the energy sector.
The owner of Trump Media holds about 115 million shares, which are currently held in trust, and his son, Donald Trump Jr., is on the board of directors of the company.
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