# USD1 (World Liberty Financial)

Updated: September 5, 2026

> USD1 is a stablecoin branded by World Liberty Financial (a project publicly tied to the Trump family); actual issuance and redemption run through BitGo Trust Company. Launched in March 2025, its market cap is about $4.25 billion in early September 2026. An affiliated entity is pursuing its own OCC national trust charter; a $2 billion MGX–Binance deal settled in USD1 became the subject of a records request from US senators.

- **Issuer/custodian**: BitGo Trust Company; brand — World Liberty Financial
- **Launched**: March 2025
- **Backing type**: Fiat-backed, fully reserved
- **Reserve attestation**: Crowe LLP, monthly
- **Main networks**: Ethereum, BNB Smart Chain, Tron, Aptos, Solana, and others
- **Regulatory status**: OCC trust charter application — preliminary approval August 15, 2026
- **Market cap**: ~$4.25 billion (early September 2026)

## Overview

USD1 is a token branded by World Liberty Financial (WLFI), a project publicly tied to the family of the sitting US president. Legally, the token is issued and redeemed not by WLFI itself but by the regulated custodian BitGo Trust Company — per language in its own attestation report: "the USD1 brand and certain associated trademarks are owned and controlled by World Liberty Financial, Inc. and SC Financial Technologies, LLC." The profile of the organization behind the brand is covered in "World Liberty Financial."

## Reserves and attestation

Reserves consist of cash and short-dated Treasuries; per an August 11, 2026 report, the collateralization ratio was about 100.01% (roughly $4.01 billion in reserves against an equal amount of tokens in circulation). Monthly attestations are performed by Crowe LLP under AICPA's criteria for fiat-backed tokens; the most recent verified report available at the time of writing covered reserve dates October 7 and October 31, 2025.

## Networks

Per the attestation report, USD1 is issued on Ethereum, BNB Smart Chain, Tron, Aptos, and Solana; as of August 2026 the network list had expanded to also include Mantle, Monad, Plume, Morph, and AB Core, and that same month the company announced expansion onto the institutional Canton Network.

## Regulatory status and conflict of interest

In January 2026, an affiliated entity applied for an OCC national trust charter for a bank named World Liberty Trust Company, N.A. (headquartered in Bay Harbor Islands, Florida); on August 15, 2026, the OCC granted preliminary conditional approval, with a $20 million minimum capital requirement as a pre-opening condition. Separately, in August 2026, Senators Elizabeth Warren and Jeff Merkley, on behalf of the Senate Banking Committee minority, sent a letter to WLFI co-founder Zach Witkoff requesting records on a $2 billion deal between the UAE state-linked fund MGX and the exchange Binance, settled in USD1; per a financial disclosure released in June 2025, Donald Trump's personal earnings from World Liberty Financial were valued at $57.4 million at that time. The senators' request frames a question about a potential conflict of interest between a family shaping US stablecoin policy and a commercial stablecoin generating income for that family — the company responded that operations run through regulated partners and that reserves are disclosed publicly.

## Sources

- [BitGo / Crowe LLP, USD1 reserve attestation report (October 2025)](https://landing.bitgo.com/rs/552-OGK-141/images/USD1_Reserve_Attestation_Report_%20October_2025.pdf)
- [BitGo, USD1 page](https://www.bitgo.com/usd1/)
- [Crowdfund Insider, on the OCC's preliminary approval for World Liberty Trust Company (August 2026)](https://www.crowdfundinsider.com/2026/08/297127-world-liberty-trust-company-secures-preliminary-conditional-approval-for-national-trust-bank-charter-from-occ/)
- [US Senate Banking Committee (minority), letter from Warren and Merkley on the MGX/Binance deal](https://www.banking.senate.gov/newsroom/minority/warren-merkley-seek-world-liberty-financial-records-on-2-billion-trump-stablecoin-deal-involving-uae-firm-and-binance)
- [Forbes, on Donald Trump's earnings from World Liberty Financial per financial disclosure](https://www.forbes.com/sites/zacheverson/2025/06/14/trump-world-liberty-financial-crypto-earnings-financial-disclosure/)
- [CoinMarketCap, USD1 market data](https://coinmarketcap.com/currencies/world-liberty-financial-usd/)

Canonical: https://stblcns.xyz/en/wiki/stablecoins/usd1