Trump-linked World Liberty Financial unveils its stablecoin in Washington, D.C., with Donald Trump Jr. in attendance.
The president's son Donald Trump Jr. joined a cryptocurrency event in Washington via video link to discuss cryptocurrency and strengthen his family's ties to World Liberty.
Jesse Hamilton | Edited by Nikhilesh De on 26 Mar 2025, 16:15 UTC
WASHINGTON, D.C. — World Liberty Financial (WLFI), a financial protocol backed by President Donald Trump and his family, showcased its stablecoin at a crypto event in Washington on Wednesday, where lawmakers were also in attendance to update the industry on progress on U.S. policy initiatives.
Donald Trump Jr., one of WLFI's three co-founders, joined the call via video link and expressed general support for the digital asset technology on which the business is based.
“I’m just incredibly excited about what this could mean for the future of banking and financial systems,” Trump said. “I’ve been kind of a beneficiary of the traditional way of doing things, but that doesn’t mean it’s the best way.”
The company confirmed the launch of its USD1 stablecoin this week, indicating that it will first be available on Ethereum and the Binance-linked BNB Chain. The announcement comes as Congress moves forward with legislation to regulate stablecoins in the U.S.; many of the lawmakers working on it were also in attendance at the same DC Blockchain Summit on Wednesday, hosted by the Digital Chamber.
“We are excited for the world to experience our stablecoin,” said Zach Witkoff, one of the co-founders of World Liberty Financial. “I truly believe this product will be a mainstay for retail and institutional clients.”
The Washington event gave Trump-linked businesses an important platform, with speakers followed by two Republican lawmakers who are key to potential stablecoin legislation, Sen. Tim Scott and Rep. French Hill. Their bill could ultimately receive President Trump’s final approval, leaving little room for friction between the industry’s core lobbying goals and the president’s family business.
“You can’t make permanent policy changes through executive action,” Hill said. “That’s why the leadership in the Senate and House of Representatives [is] creating a stablecoin regime that could make America the primary hub for dollar-backed stablecoins.”
The House of Representatives is also close to reintroducing the measure, he said.
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