World Liberty’s $1 Will Merge with Tron; WLFI’s Witkoff Hints at Additional Collaborations

Eric Trump, the son of former U.S. President Donald Trump, announced that World Liberty Financial’s stablecoin, USD1, has been designated as the official stablecoin to facilitate MGX’s $2 billion investment in Binance.

During his remarks at the Token2049 event held in Dubai, Trump also revealed that USD1 is set to integrate with the Tron network, which has financial backing from billionaire Justin Sun.

Earlier this year, MGX, an investment firm based in Abu Dhabi, committed $2 billion to acquire a stake in Binance. This investment is significant as it represents one of the first institutional commitments to the world’s leading cryptocurrency exchange.

In March, World Liberty Financial, associated with the Trump family, disclosed its intention to introduce a dollar-pegged stablecoin through a partnership with BitGo.

“USD1 is poised to be one of the most regulated and transparent stablecoins globally. Backed by short-term treasury and cash equivalents, our goal extends beyond simply establishing a stable currency; we aim for seamless cross-border transactions, emphasizing both transparency and consumer protection,” Trump remarked.

Zach Witkoff, co-founder of World Liberty, also spoke at the event and hinted at forthcoming collaborations for their decentralized finance protocol.

“We have exciting developments ahead at World Liberty, so keep an eye out. We are actively working on various DeFi integrations, aiming to position USD1 as the go-to stablecoin within both the DeFi and CeFi landscapes. We are also making strides toward integrating with conventional retail point-of-sale systems,” Witkoff stated.