USD1 Stablecoin Surges Past $2.1 Billion Mark

USD1, a stablecoin launched by World Liberty Financial and backed by U.S. Treasuries, has quickly grown to over $2.1 billion in circulation, making it one of the fastest-growing stablecoins in history. The surge was largely driven by MGX's $2 billion investment in Binance, where USD1 served as the settlement currency. Most of USD1's rapid growth occurred on BNB Chain, positioning it as the network's second-largest stablecoin and significantly increasing BNB Chain’s stablecoin supply. The stablecoin is promoted as a decentralized alternative to central bank digital currencies, with cross-chain deployment and attempts to minimize custodial risk. However, concerns persist about transparency, governance, and the extent of Donald Trump's involvement. Analysts note that USD1’s explosive rise signals a major shift in the stablecoin market with broader implications for the digital asset ecosystem.