Catenaa, Thursday, May 08, 2025-World Liberty Financial’s (WLFI) stablecoin, USD1, is set to close the $2 billion investment deal between Binance and the Abu Dhabi investment firm MGX.
The announcement was made by WLFI co-founder Zach Witkoff at the Token2049 conference in Dubai, where he confirmed USD1 will be the “official” stablecoin used to finalize the deal.
While initial reports did not specify which stablecoin would be used, this marks a significant move for World Liberty Financial, a decentralized finance (DeFi) project with connections to US President Donald Trump and his family.
The $2 billion investment, which was finalized on March 12, also granted MGX a minority stake in Binance, one of the world’s largest cryptocurrency exchanges.
MGX’s decision to use USD1, WLFI’s newly launched stablecoin, for the deal is seen as a major step for the crypto space, as it signals the growing integration of stablecoins into high-value transactions.
World Liberty Financial, launched in October 2024, is backed by a team that includes Donald Trump and three of his sons. The project’s USD1 stablecoin is fully backed by US dollar deposits and short-term US Treasuries.
While WLFI has not yet finalized plans, it is considering distributing USD1 through airdrops to token holders.
The stablecoin’s involvement in the Binance deal follows an agreement between WLFI and the Pakistan Crypto Council (PCC) to bolster blockchain growth in Pakistan.
