- World Liberty mints $205M USD1, raising supply to $2.4B in the largest jump since late April.
- USD1 now makes up 39% of World Liberty’s portfolio as treasury assets climb to $548 million.
- Fed and SEC leaders back stablecoins, fueling stronger regulatory confidence in the market.
World Liberty Financial, the decentralized finance project by the Trump family, minted $205 million of its stablecoin tied to the US dollar on Thursday. The action was taken shortly after Federal Reserve Governor Christopher Waller expressed his support for stablecoins in a speech. The mint added to a total supply of USD1 to $2.4 billion, the most significant growth since late April.
World Liberty confirmed the mint in a post on X. The money was deposited into the treasury of the project, which increased the total assets available to it to $548 million, according to analytics firm Nansen. The project has now generated its most significant asset in USD1, which is valued at $212 million, or 39% of the portfolio.
Fed Governor and SEC Chair Boost Stablecoin Outlook
Governor Waller made the remarks during a blockchain summit in Wyoming. He claimed that stablecoins could be used to push the global use of the U.S. dollar. He further contended that they can enhance retail payments and quicken cross-border transactions. Waller characterized the recently passed GENIUS Act as an important move in the marketplace.
Securities and Exchange Commission Chair Paul Atkins also embraced the new law. On August 19, he termed it a landmark action by Congress and regulators. His statement accrued more regulatory favor to stablecoins, and this fosters the prospects of broadening in the financial environment of the U.S.
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World Liberty Strengthens Portfolio Beyond USD1 Stablecoin
USD1 is currently ranked as the seventh biggest stablecoin in terms of market capitalization and was launched in April. Tether dominates the industry with a market share of 60% and a circulating supply of $167 billion. Circle takes second place with $67.4 billion and 24% of the share. The smaller-scale issuers comprise the remaining portion of the industry.
Source: CoinGecko
The World Liberties investments are larger than USD1. It holds $85 million in Aave Ethereum USDT and a similar number of Ether in its treasury. The project has 19,650 ETH and has a considerable scale of exposure in the Ethereum network and decentralized financial protocols.
Source: Nansen
Reports earlier this month indicated World Liberty Financial may also expand its operations. The development is considering a publicly traded company on WLFI tokens. According to Bloomberg, the new entity may seek to raise 1.5 billion dollars. This would be a milestone in connecting decentralized assets with traditional capital markets.
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