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Coinbase has listed World Liberty Financial’s USD1 stablecoin, giving the politically linked token wider access while raising both adoption prospects and regulatory scrutiny.
- Coinbase has listed World Liberty Financial’s USD1 stablecoin, expanding its reach to retail and institutional users.
- USD1 has grown to a $2.2B market cap since March with strong institutional adoption.
- The project faces political scrutiny due to Trump family ties and concerns about liquidity concentration among large holders.
World Liberty Financial’s dollar-pegged stablecoin, USD1, is now live on Coinbase, the exchange announced on Aug. 21 across its platforms. Customers can buy, sell, convert, send, and store USD1 through the Coinbase app and website.
Coinbase expands USD1 stablecoin support
Coinbase said USD1 will initially be supported on the Ethereum (ETH) network as an ERC-20 token, with transfers available on Coinbase and Coinbase Exchange in approved regions.
Local regulations may restrict availability, which reflects the exchange’s jurisdiction-based approach to regulated stablecoins. The Ethereum contract address has been shared publicly to ensure transparency.
The listing drew significant attention after Eric Trump, son of the U.S. President, reposted Coinbase’s X announcement online, underscoring the project’s political connections. On the day of the listing, World Liberty Financial also revealed a $205 million mint of USD1 for its treasury, calling it the fastest-growing stablecoin.
Rapid growth and scrutiny
Since its launch in March 2025, USD1 has expanded rapidly, reaching a $2.2 billion market capitalization by Aug. 21, according to DeFiLlama data. This milestone places it ahead of competitors like FDUSD and PYUSD as the fifth-largest stablecoin in the world.
The token has gained institutional backing as well, including a $2 billion investment involving Binance and Abu Dhabi’s MGX fund. USD1 is held in custody by BitGo Trust Company and is fully backed by dollar deposits, cash equivalents, and U.S. Treasuries. It runs on Ethereum, Binance Smart Chain, and TRON (TRX) and is subject to monthly third-party audits, with zero-fee minting and redemption.
Despite its momentum, USD1 has faced criticism over liquidity concentration, with more than half of the supply held by three wallets. Lawmakers have also questioned its political affiliations and suggested possible conflicts of interest considering the Trump family’s involvement,
Even so, Coinbase’s listing is expected to drive greater trading activity and visibility for the stablecoin.