BNB Chain hosts testing of the USD1 stablecoin by World Liberty Financial, a Trump-associated project focused on TradFi-DeFi solutions.
On-chain data, monitored by the analytics platform Lookonchain, indicates that World Liberty Financial (WLFI), a DeFi initiative with ties to former US President Donald Trump and his sons, has commenced testing of its newly developed stablecoin, USD1, utilizing the BNB Chain.
Further scrutiny of blockchain records suggests that Wintermute’s publicly recognized digital wallet participated in these initial evaluations.
Crypto analyst INVEST Y, in an analysis confirmed by Binance co-founder Changpeng “CZ” Zhao, reported that this particular wallet executed a series of trial transactions involving USD 1.
These transactions reportedly included assessments of USD1’s functionality across different blockchain ecosystems, specifically between the Ethereum and BNB Chain networks.
Back in October, Decrypt disclosed WLFI’s ongoing development of a proprietary stablecoin.
According to insider sources, ensuring both the safety and reliability of this stablecoin prior to its market introduction has been the project team’s primary concern.
BNB Chain hosts testing of USD1 stablecoin by World Liberty Financial
The current stablecoin testing phase comes on the heels of WLFI’s successful completion of a $550 million token sale earlier in the month.
In a subsequent statement, Zak Folkman, WLFI’s co-founder, indicated that these initial sales represented only the beginning of the project’s overall vision.
“Concerning our ongoing development initiatives, I would characterize our efforts as centered around three core product verticals currently under active development and refinement.
Of these, two are functionally complete and in a state of readiness for deployment,” Folkman elaborated.
While he remained reserved about the specifics of the first completed product, he revealed that the other two consist of a lending and borrowing marketplace facilitated by smart contracts and a dedicated protocol focused on real-world asset (RWA) integration.
Folkman further explained, “Our current emphasis is on the final preparation phases to ensure a phased and strategically sound rollout of our complete product ecosystem in a manner that is both meaningful and strategically coherent.”
In contrast to typical DeFi lending platforms that operate through decentralized autonomous organizations (DAOs), World Liberty Financial will adopt a centralized governance approach for its lending marketplace.
This model provides the company with direct operational control and allows for platform customization tailored to the unique needs of its user base, particularly institutions within traditional finance (TradFi).
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