World Liberty Financial, supported by the Trump family, recently showcased its USD1 stablecoin at the Token2049 conference in Singapore. Co-founders Donald Trump Jr. and Zach Witkoff emphasized the token's potential to 'dollarise the world' and bolster the US dollar's global position.
With claims of rapid growth and backing by US Treasury securities, USD1 exemplifies the trend of tokens linked to US assets. The event, which attracted 25,000 participants, highlighted a shift in US policy towards a more favorable regulatory landscape for digital assets.
Additionally, USD1 is set to launch on the Aptos network, marking a significant expansion into the web3 space. Concurrently, Tether introduced USA₮, a new US-based stablecoin aimed at regulatory compliance.
Meanwhile, a Russian advisor suggested that the US might turn to cryptocurrency to alleviate its soaring national debt, which raises concerns about the potential destabilization of global markets. This growing focus on stablecoins reflects the evolving landscape of the cryptocurrency industry.
