According to Reuters, USD1 will be backed by U.S. Treasury bonds, dollars, and other cash equivalents.
Stablecoins are typically meant for crypto bros to park their cash in.
But World Liberty Financial certainly seems to have a particular audience in mind with USD1.
The World Liberty Financial website, including a photo of Donald Trump, displayed on a laptop© Gabby Jones/Bloomberg via Getty Images
So it sounds like theyre quite interested in overseas money.
That is far from the only red flag flying full mast with this announcement, though.
Wouldnt you know it, USD1 does exactly that.
World Liberty Financial is positioning its stablecoin as an option for foreign investors.
Are those statements related?
Who can say for sure.
Lots of money can pass through stablecoins, and it generates big bucks for its operators.
Guess its nice to have a direct line to the guy signing the laws.
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