Binance expands USD1 stablecoin across major spot markets

Binance, the world’s largest crypto exchange, has elevated the role of USD1 — the stablecoin issued by World Liberty Financial — by enabling trading pairs that allow users to trade assets such as BNB, ETH, and SOL directly against USD1.

The exchange said on Thursday that USD1 is being added “to several of the platform’s most active spot markets.” Within the week, Binance will also convert all collateral assets backing Binance-Peg BUSD (B-Token) into USD1 at a 1:1 ratio.

According to World Liberty, this transition makes USD1 an integral part of Binance’s updated collateral structure, further embedding the stablecoin into the exchange’s ecosystem.

Data from DeFiLlama shows that nearly $2.8 billion worth of USD1 is currently in circulation. A significant portion of the supply comes from Abu Dhabi investment firm MGX, which earlier this year opted to use USD1 to make a $2 billion investment into Binance.

“Binance’s expansion of USD1 marks an important milestone in WLFI’s mission to make U.S. dollar stablecoins accessible to people everywhere,” said Zach Witkoff, CEO and co-founder of World Liberty Financial. “By integrating USD1 into the liquidity, trading, and collateral systems of the world’s largest exchange, Binance is giving hundreds of millions of users improved access to USD1.”

Trump and his sons listed as co-founders

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

In October, Trump granted a pardon to former Binance CEO Changpeng Zhao. That same month, Binance.US denied that political motives played any role in its decision to list USD1.

Launched in March, World Liberty’s USD1 stablecoin is said to be fully backed by short-term U.S. Treasury bills, U.S. dollar deposits, and other cash-equivalent assets.