Trump-Backed Crypto Project Launches USD1 Stablecoin on Ethereum and BNB Chain

US President Donald Trump is stepping into the stablecoin arena. His crypto initiative, World Liberty Financial, has launched its first stablecoin, USD1, on both Ethereum and BNB Chain.

Now, with Trump back in the White House and momentum building behind a federal stablecoin bill, the team at World Liberty appears to believe the timing is right.

Trump Launches USD1

According to on-chain data, the USD1 smart contracts were deployed roughly 20 days ago and went live on March 24. The stablecoin is pegged to the U.S. dollar and is intended to serve as a secure on-chain alternative to fiat for global users.

Welcome to @BNBChain!

According to BSCScan, the smart contract was deployed 20 days ago. Build! https://t.co/qr22y4pXqE https://t.co/J0TvwEnUin

— CZ BNB (@cz_binance) March 24, 2025

According to Zach Witkoff, Wolrd Liberty’s co-founder:

Sovereign investors and major institutions would be able to integrate USD1 into their strategies for seamless, secure cross-border transactions.

Its launch comes as the GENIUS bill—a bipartisan legislative proposal to regulate stablecoins—makes its way through the U.S. Senate. If passed, the bill would bring legal clarity to stablecoin issuance in the U.S., creating fertile ground for USD1’s adoption.

The president’s role in the project isn’t passive. He is positioning himself as the chief crypto advocate behind World Liberty, while his sons Eric, Donald Jr., and Barron serve as Web3 ambassadors. The project’s co-founders include longtime ally Steve Witkoff and his sons, who launched the initiative in September 2024.

Trump’s Crypto Ambitions Run Deeper

USD1 isn’t the Trump family’s first venture into crypto. In early 2025, the President launched the $TRUMP memecoin on Solana, which skyrocketed in value shortly after its release. The token quickly climbed into the top 20 cryptocurrencies by market cap, driven by massive retail interest and political branding. While related entities reportedly retained 800 million of the 1 billion token supply, critics raised concerns about conflicts of interest and insider control.

Shortly after, Melania Trump introduced her own token, $MELANIA, also on Solana. Though less commercially explosive, it was positioned more as a collectible to express support, echoing her earlier ventures into NFTs.

These early crypto moves laid the groundwork for World Liberty Financial and the USD1 stablecoin while also showing how the Trump brand continues to evolve alongside digital asset culture. As federal crypto regulation advances, their pivot toward more utility-driven products like stablecoins signals a major shift.