coindesk.com
Eric Trump, son of U.S. President Donald Trump, said that World Liberty Financial's dollar denominated stablecoin ($USD1) has been officially selected as the official stablecoin to close MGX’s $2 billion investment in Binance.
Speaking at the Token2049 event in Dubai, Trump also announced that $USD1 will be integrating with the Tron ecosystem, which is backed by billionaire Justin Sun.
Earlier this year, Abu Dhabi-based investment firm MGX put $2 billion to buy a stake in Binance, marking one of the first institutional investment in the world's largest exchange.
The Trump-family backed World Liberty Financial, announced its plans for launching a dollar-backed stablecoin with BitGo in March.
“$USD1 will become one of the most transparent and regulated stablecoin in the world. It is backed by short term treasury and cash equivalent“not only do we want to create a product in our stable point USD, one that can be sent across borders in a very seamless way, but transparency and frankly, consumer safety is paramount, right?” Trump added.
Eric Trump, son of U.S. President Donald Trump, said that World Liberty Financial's dollar denominated stablecoin ($USD1) has been officially selected as the official stablecoin to close MGX’s $2 billion investment in Binance. Speaking at the Token2049 event in Dubai, Trump also announced that $USD1 will be integrating with the Tron ecosystem, which is backed by billionaire Justin Sun. Earlier this year, Abu Dhabi-based investment firm MGX put $2 billion to buy a stake in Binance, marking one of the first institutional investment in the world's largest exchange. The Trump-family backed World Liberty Financial, announced its plans for launching a dollar-backed stablecoin with BitGo in March. "$USD1 will become one of the most transparent and regulated stablecoin in the world. It is backed by short term treasury and cash equivalent"not only do we want to create a product in our stable point USD, one that can be sent across borders in a very seamless way, but transparency and frankly, consumer safety is paramount, right?" Trump added.