💨 Abstract

Donald Trump's World Liberty Financial crypto venture is launching a dollar-pegged stablecoin, USD1, backed by U.S. Treasuries, dollars, and cash equivalents. The digital token will be launched on Ethereum and Binance Smart Chain blockchains, with plans to expand to other protocols. The token, intended to maintain a value of $1, will be audited regularly by a third-party accounting firm.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖