Binance expands the role of the USD1 stablecoin in its trading ecosystem.
Binance, the world’s largest crypto exchange, has upgraded the utility of the USD1 stablecoin issued by World Liberty Financial by enabling trading pairs with major assets like BNB, ETH, and SOL. The exchange announced on Thursday that USD1 will be added to several of its most active spot markets. This week, Binance will also convert all collateral backing Binance-Peg BUSD (B-Token) into USD1 at a 1:1 ratio.
World Liberty Financial stated that the migration positions USD1 as a key component of Binance’s new collateral framework, increasing the stablecoin’s integration across the platform. According to DeFiLlama, roughly $2.8 billion USD1 is currently in circulation, with the majority coming from MGX, an Abu Dhabi-based investment fund, which used USD1 for a $2 billion investment into Binance earlier this year.
Zach Witkoff, CEO and co-founder of World Liberty Financial, commented, “Binance’s expansion of USD1 support marks an important milestone in our mission to make digitized USD accessible globally. Integrating USD1 into liquidity, trading, and collateral systems allows hundreds of millions of users easier access to the stablecoin.”
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