Table of Contents
ToggleUSD1 Launches on Huobi, Is WLFI Far Behind?
The stablecoin USD1, launched by World Liberty Financial under Trump's leadership, recently announced its listing on Huobi Exchange. It is understood that USD1 has been issued on Ethereum and BNB Chain. CZ also reposted the post and described USD1 as a stablecoin growing on the BNB Chain. Previously, World Liberty Financial announced that the UAE sovereign fund MGX would invest $2 billion in Binance, to be paid with USD1. With CZ's repost and the collaboration between WLFI, MGX, and Binance, USD1's landing on Binance may not be far off.
(WLFI Based in Dubai, Announces USD1 as Official Stablecoin for MGX's $2 Billion Binance Investment)
USD1's listing on Huobi is partly because Justin Sun spent millions of dollars to purchase WLFI and serves as its advisor. In the comments on Huobi's post, the community is asking if WLFI is far behind now that USD1 is listed. ABMedia checked the App Store and found that Huobi's app description mentions trading Bitcoin, BTC, WLFI, and SOL, leaving room for imagination.
StakeStone May Be the First DeFi Protocol Minter for USD1
Besides World Liberty Financial, MGX, and Huobi, custodial service provider Bitgo, market maker Wintermute, and DWF Labs have also participated in USD1's launch. According to Yu Jin's analysis, StakeStone's deployer address received a transfer of 10,000 USD1 from the WLFI custody address today.
Yu Jin stated that StakeStone is focused on cross-chain liquidity distribution, with core products LiquidityPad and Vault. Since general users cannot mint $USD1, he speculates that StakeStone might be the first DeFi protocol minting service for USD1? Or, following StakeStone's previous business model, this could be preparation to open USD1 minting services to retail investors through its liquidity products. He also mentioned that StakeStone had previously shared an article about WLFI's $USD1 launch, suggesting some form of collaboration.
(Trump's Crypto Project WLFI Tests USD1 Stablecoin, Wintermute and BitGo Involved)
Risk Warning
Cryptocurrency investment carries high risk, and prices may fluctuate dramatically. You may lose all your principal. Please carefully assess the risks.
