Institutional Confidence Grows as Upbit Adds USD1 to Major Pairs

South Korean cryptocurrency exchange Upbit has announced the listing of USD1, a stablecoin, across three major trading pairs: KRW, BTC, and USDT. The move, effective from September 1, allows traders to engage with USD1 through various asset combinations, broadening access to both retail and institutional investors. USD1 is positioned as a stable digital asset, pegged to the U.S. dollar and supported by a mix of Treasury securities and cash reserves, with custodial services provided by BitGo, according to the official announcement [1]. This listing follows similar integrations with platforms such as Coinbase, indicating a growing institutional interest in USD1 [2].

The addition of USD1 to Upbit's platform coincides with the listing of WLFI, a token associated with the World Liberty Financial (WLF) project, further underscoring the exchange’s strategy to expand its token offerings. Both assets were introduced with multiple trading pairs, allowing for flexibility in trading strategies. Upbit confirmed that USD1 trading would begin at 7:00 a.m. UTC on September 1, with WLFI following at 1:00 p.m. UTC on the same day. This structured rollout reflects the exchange’s emphasis on order and transparency in new asset listings [3]. Analysts have noted that such listings often contribute to increased market liquidity and visibility for the tokens, especially when integrated across major trading platforms [2].

USD1’s performance since its market debut in March has demonstrated resilience, maintaining a stable peg to the U.S. dollar while achieving a market capitalization of $2.56 billion. This steady growth has positioned USD1 alongside well-established stablecoins like USDT and USDC, reinforcing its credibility in the digital asset market. Upbit’s decision to list USD1 against multiple assets—KRW, BTC, and USDT—suggests a broader strategic alignment with global market practices, as similar listings have been observed across exchanges in Singapore, Dubai, and Switzerland. These moves often coincide with regulatory clarity, which can drive greater participation and liquidity in the tokens [2].

The inclusion of USD1 on Upbit is also a significant development for institutional investors and market observers. The stablecoin’s backing by U.S. Treasury assets and audited custodial arrangements enhances its appeal to investors seeking stability amid market volatility. Upbit’s listing decision may reflect a growing confidence in the asset class, particularly in markets where stablecoins play a crucial role in facilitating transactions and managing exposure to more volatile assets. This trend aligns with broader industry shifts toward institutional-grade digital assets [3].

The listing of USD1 and WLFI on Upbit has drawn attention due to the political affiliations surrounding WLFI. The Trump family’s ownership of approximately 22.5% of WLFI’s supply has sparked regulatory scrutiny and political debate, with some lawmakers proposing legislation to address perceived conflicts of interest. Despite these concerns, the technical infrastructure of both USD1 and WLFI, including audited smart contracts and transparent custody arrangements, has contributed to early confidence among traders and institutional investors [2]. The listings represent a broader pattern of digital assets navigating both financial and political landscapes in the evolving crypto ecosystem.

Source:

[1] PANews (https://www.panewslab.com/en/articles/4ba4cc51-1d5e-4e38-b862-b9940c02bcf7)

[2] Coinfomania (https://coinfomania.com/south-koreas-upbit-lists-trump-linked-wlfi-and-usd1/)

[3] Bitcoinworld (https://bitcoinworld.co.in/upbit-crypto-listings-usd1/)