Binance Launches USD1 Stablecoin with Trading Limits in the EU and US
Binance, the leading cryptocurrency exchange by trading volume, announced its intention to include the USD1 stablecoin, which is produced by the DeFi initiative World Liberty Financial (WLFI) associated with the Trump family.
In a statement released on May 22, the platform indicated that it would commence trading for the USD1/USDT pair on the same day. Additionally, users will be able to deposit the token, with the option for withdrawals starting the following day, May 23.
However, the listing is subject to significant geographic limitations. Binance specified that trading in the stablecoin will be restricted depending on the user’s location.
The company noted that users from regions such as the European Economic Area, Canada, certain areas in Ukraine, the United States, and U.S. territories like Puerto Rico are currently not permitted to trade USD1.
Despite this, the introduction of USD1 indicates a considerable enhancement of Binance’s support for the stablecoin, particularly as the BNB Chain is one of the limited blockchains chosen by WLFI for minting the token.
USD1’s growth spurt
The listing on Binance marks a significant increase in interest surrounding the USD1 stablecoin.
In recent months, various crypto exchanges such as KuCoin and HTX have added the coin to their platforms, broadening its accessibility to more users.
Furthermore, WLFI has intensified its initiatives to incorporate USD1 into decentralized finance networks through multiple strategic collaborations.
A key milestone includes its recent partnership with Chainlink’s Cross-Chain Interoperability Protocol (CCIP), enabling the stablecoin to function across different blockchains.
Zach Witkoff, co-founder of WLFI, mentioned that these initiatives are aimed at supporting the underbanked population. He remarked:
“Our mission is straightforward: to empower 1.4 billion unbanked individuals and hundreds of millions of underbanked people with access to contemporary financial instruments—while solidifying U.S. dollar dominance globally via stablecoins supported by U.S. Treasuries. This represents the future of finance—unrestricted, dollar-supported, and accessible to everyone.”
USD1 is designed to maintain a 1:1 peg with the U.S. dollar, facilitating digital payments by enabling smooth conversions between traditional currency and digital assets.
According to current data, USD1 has reached a market cap of $2.14 billion, positioning it among the five largest stablecoins in terms of market capitalization.
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