Eric Trump, son of U.S. President Donald Trump, has acknowledged the rapid growth of USD1, the stablecoin backed by World Liberty Financial (WLFI).
In just two months, the dollar-pegged digital asset has reached a $2.1 billion market cap, making it the seventh-largest stablecoin in circulation. The stablecoin’s trajectory has gained attention for its speed and scale, positioning it ahead of several longstanding players in the crypto space.
Commenting on the achievement, Eric expressed pride in USD1’s impressive ascent in a post on X.
Very proud of this acomplishment! @worldlibertyfi https://t.co/mQqOViXPKd
— Eric Trump (@EricTrump) May 9, 2025
USD1 Climbs Market Ranks in Weeks
Following its formal launch in early April, USD1 moved swiftly from an initial supply of $3.5 million to a supply exceeding $2 billion by April 30.
According to data from BscScan, the stablecoin experienced a series of large mints throughout the period, with individual transactions ranging between $50 million and $99 million. These inflows reflect notable backing and growing utility for the asset across the Binance Smart Chain.
The overall stablecoin market holds a valuation of $245 billion, with Tether’s USDT leading at $149.7 billion and USDC at $60 billion. However, USD1 has already surpassed PayPal USD at $871 million, Tether Gold at $818 million, and First Digital USD at $1.5 billion.
This ascent places USD1 in a competitive tier within a tightly watched segment of the digital currency ecosystem.
World Liberty Financial has previously outlined that USD1 maintains full asset backing, supported through a mix of short-duration U.S. Treasury instruments, liquid cash holdings, and U.S. dollar-based reserves.
As part of its operational rollout, the firm also plans to distribute a limited amount of USD1 directly to WLFI token holders.
Confirmed Role in $2 Billion Binance Deal
Meanwhile, USD1 was selected as the official transaction medium for a $2 billion investment by Abu Dhabi-based MGX into Binance. This institutional deal, first announced by Binance in March 2025, marks the exchange’s first major institutional placement.
The identity of the stablecoin used was initially undisclosed. However, during the Token2049 conference in Dubai, WLFI co-founder Zach Witkoff confirmed USD1’s role in the transaction.
The confirmation of USD1 as the chosen stablecoin adds operational relevance to its recent market growth. The deal also provides the asset with exposure in a high-profile investment, reinforcing its functionality within large-scale financial transactions on global platforms.
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