The USD1 stablecoin from World Liberty Financial—a crypto project backed by President Donald Trump and his sons—is now available for trading on Coinbase, the exchange announced on Thursday.
America's biggest crypto exchange announced the listing in a Thursday post on X. Eric Trump, the president's son and World Liberty co-founder, then reposted it and said that more news related to the crypto project was coming "very soon."
Decrypt reached out to WLF for comment but did not immediately receive a response.
Coinbase told Decrypt that it listed the coin because it "strives to bring to market the products and services our customers want." American users can now access three stablecoins on Coinbase: USDC, Tether's USDT, and USD1.
In March, Decrypt reported that World Liberty had launched its own stablecoin. A stablecoin is a digital token typically pegged to the value of the U.S. dollar, but sometimes other non-volatile assets like alternative fiat currencies or gold.
Before listing USD1, Coinbase provided support for the two major stablecoins, USDT and USDC, and other smaller tokens.
The announcement comes amid a wave of activity in the stablecoin market coinciding with the run-up to and passage of the GENIUS Act, which set guidelines for issuing and trading stablecoins in the U.S. In recent months, a number of major financial services companies and other entities have introduced stablecoin initiatives, or said they were exploring efforts in the space.
Stablecoins are a key part of the crypto economy, because traders would use them to swiftly enter and exit digital asset transactions. Instead of using dollars on traditional banking rails, digital tokens accelerate the crypto trading process.
USD1 is planned to be usable on World Liberty Financial, a decentralized finance or DeFi platform announced in 2024. The Ethereum-based platform, which is being built with the Aave protocol, will provide crypto borrowing and lending services. However, it has yet to launch to the public.
In addition to the USD1 stablecoin, World Liberty has also launched its own native token, WLFI. That token is not currently tradable, though token holders voted in July to make it possible to buy and sell the Ethereum-based token.
Democratic lawmakers have called out World Liberty and its connection to President Trump, especially following the use of USD1 for a $2 billion investment from Abu Dhabi-based sovereign wealth fund MGX into leading crypto exchange Binance.
Even Republicans have suggested that Trump's various crypto dealings—including World Liberty and his own personal Solana meme coin—have made it more difficult to advance crypto legislation in Washington.
However, the House and Senate ultimately passed the GENIUS Act stablecoin bill, which Trump signed into law in July.
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