Key highlights:
- World Liberty Financial issues $205M USD1 stablecoin, boosting total supply to $2.4B.
- Fed Governor Christopher Waller praises stablecoins for retail and cross-border payments.
- USD1 now represents 39% of World Liberty’s crypto portfolio, its largest position to date.
The Trump family-backed project World Liberty Financial issued USD1 stablecoins just hours after speeches by Federal Reserve Board Governor Christopher Waller, who praised the potential of stablecoins in modern finance.
Record issuance and market position
On 21 August, World Liberty reported via social media platform X that it had issued $205 million of its USD1 stablecoin, increasing the token’s total supply to $2.4 billion—the first major increase since late April.
Since its launch in early April, USD1 has become the sixth-largest stablecoin globally by market capitalization, following Tether USDT ($167B, 60% of the market) and Circle USDC ($67.4B, 24%).
Regulator support
The USD1 issuance came shortly after Fed Governor Waller spoke at a blockchain conference in Wyoming, expressing support for cryptocurrencies with a special mention of stablecoins.
“I believe that stablecoins have the potential to maintain and extend the role of the dollar internationally. Stablecoins also have the potential to improve retail and cross-border payments.” — Federal Reserve Governor Christopher Waller, speaking at the Wyoming Blockchain Symposium in Teton Village, Wyoming.
Waller also highlighted the importance of the GENIUS law, signed last month to regulate stablecoins, calling it “an important step for the payment stablecoin market to reach its full potential.”
A similar view was expressed by SEC Chairman Paul Atkins, who on 19 August described the bill as “a landmark step for Congress and the U.S. government.”
Project assets reach maximum
Source: Nansen
The recent issuance increased World Liberty Financial’s total assets to a record $548 million, according to Nansen data. The USD1 stablecoin now represents the project’s largest cryptocurrency position at $208 million (39% of the portfolio). The next largest assets include Aave Ethereum USDT (AETHUSDT) at $85 million and an additional stake in Ethereum totaling 19,650 ETH.
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Source: https://coincodex.com/article/71873/world-liberty-usd1-stablecoin-record-issuance/
