Trump’s World Liberty Financial mints 10% of USD1 supply for treasury

The World Liberty Financial Initiative (WLFI), connected with former U.S. President Donald Trump, has successfully minted around 10% of its USD1 stablecoin supply, amounting to an impressive $205 million, which is earmarked for its Treasury.

In an announcement made on April 20 via X, WLFI highlighted the fast-paced growth of its stablecoin, which is “fully backed 1:1 by USD and U.S. Treasuries.”

While specific blockchain details regarding the minting were not disclosed, data from DeFiLlama reveals that the transaction took place on the Ethereum network.

This latest mint brings USD1’s overall supply to $2.4 billion, solidifying its status as the sixth-largest stablecoin by market capitalization. According to DeFiLlama, the distribution consists of $2.1 billion on BNB Chain, $293 million on Ethereum, and $25 million on Tron.

Further insights from Arkham Intelligence show that WLFI’s treasury currently holds assets valued at over $464.8 million. This diverse portfolio includes $212.6 million in USD1 and $85.44 million in AETHUSDT, along with other significant holdings in AETHWETH ($33.85 million), USDC ($32.8 million), and AETHWSTETH ($21.46 million), amongst smaller investments in assets like AETHWBTC, Tron, Mantle, and WhiteRock.

Enhancing USD1’s Market Presence

The timing of this minting aligns with the launch of WLFI’s USD1 Points Program, aimed at incentivizing users who drive adoption across various exchanges.

WLFI explains that while stablecoins are pivotal in trading, payments, and decentralized finance (DeFi), “users seldom receive tangible rewards for their role in fostering adoption.”

The Points Program aims to directly compensate those who contribute to the expansion of USD1’s footprint in the market.

It’s worth noting that following its token sale, WLFI previously distributed $47 in USD1 to participating wallets, showcasing its commitment to incentivizing early adopters.

These initiatives are anticipated to significantly amplify USD1’s market presence. The stablecoin has already established its utility in high-profile institutional transactions, including facilitating a $2 billion investment in Binance and contributing to the proceeds resolution for Bullish Exchange’s IPO.

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