Yigit Taha OZTURK 
Launched by World Liberty Financial (WLFI) and backed by former U.S. President Donald Trump, the stablecoin USD1 has rapidly climbed the ranks to become the seventh-largest stablecoin globally. From an initial supply of $3.5 million in early March, USD1’s market cap has soared to $2.2 billion at the time of writing.
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The WLFI community is currently voting on a USD1 airdrop proposal, while the token experienced a sharp 1,540% surge from $128 million to $2.1 billion in just two days in late April.
USD1 Circulates Mostly on BNB Chain
The vast majority of USD1’s supply is issued on the Binance-backed BNB Chain. Data from BscScan shows that over $2.1 billion worth of USD1 is circulating on the BEP-20 network, while its Ethereum-based ERC-20 version accounts for just $14.5 million, per Etherscan.
This massive spike occurred just days before Eric Trump announced that Abu Dhabi-based firm MGX would be investing $2 billion using USD1 on Binance.
HTX Among First Exchanges to List USD1
HTX (formerly Huobi), a crypto exchange associated with Tron founder Justin Sun, was among the first CEXs to list USD1, offering zero-fee withdrawals on the BEP-20 network from May 6 onward. Until then, USD1 was mostly available on decentralized exchanges like PancakeSwap and Uniswap.
Reports indicate that 90% of WLFI investors come from outside the U.S., with strong participation from Europe, Asia, and Latin America. This was echoed in a Bloomberg report from May 7, noting that most top holders of Trump-branded memecoins reside abroad.
The rise of USD1 aligns with Trump’s January 2025 executive order, “Strengthening American leadership in digital financial technology,” which promoted stablecoin innovation. However, both Trump and Binance have denied having any formal partnership or ties.
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