tl;dr
Coinbase announced it will list USD1, a stablecoin from World Liberty Financial, which recently minted over $200 million USD1 tokens to meet expected demand. Launched four months ago, USD1 has quickly reached a market capitalization of over $2.4 billion, surpassing Ripple’s RLUSD. The Trump family's...
Coinbase announced it will list USD1, the stablecoin from World Liberty Financial, signaling a significant step for the token's expanding presence. Just yesterday, the firm minted over $200 million USD1 tokens, ensuring a robust supply ready to meet new demand from Coinbase’s customer base.
The stablecoin USD1, launched only four months ago, has already amassed a market capitalization exceeding $2.4 billion, outpacing other notable stablecoins such as Ripple’s RLUSD, which holds around $660 million despite an earlier launch. This rapid growth is widely attributed to the involvement of the Trump family, whose influence appears to have accelerated USD1’s market traction.
While Binance has listed USD1 for several months, possibly due to its involvement in the coin’s creation, Coinbase’s recent inclusion of USD1 marks a pivotal breakthrough. The token will be exclusively available on the Ethereum blockchain, with trading functionality activated swiftly after the announcement, potentially igniting substantial retail interest and inflow.
World Liberty Financial’s recent minting of over $200 million in USD1 tokens coincides strategically with the Coinbase listing, providing sufficient liquidity for purchasers. This occurs amid broader efforts by World Liberty to invest heavily in Digital Asset Technologies (DATs), aiming to fully back USD1 with “cash equivalents.” Following requirements from the GENIUS Act, these reserves must now be held in US Treasury bonds, a regulation that may have introduced operational challenges for the firm considering its crypto portfolio’s unrealized losses and scrutiny of its partners.
President Trump sees stablecoins like USD1 as instrumental to enhancing the global dominance of the US dollar. As such, the Coinbase listing and expansion of USD1’s supply may contribute positively to these strategic ambitions. World Liberty’s continued growth and USD1’s market integration indicate a focused effort to leverage stablecoins in shaping future financial policy and market dynamics.