World Liberty Financial Tests USD1 Stablecoin on BNB Chain

World Liberty Financial (WLFI), a decentralized finance (DeFi) project backed by former U.S. President Donald Trump and his sons, has recently conducted tests for a new stablecoin called USD1 on the BNB Chain. This development was tracked through on-chain data and confirmed by various sources.

Wintermute’s public wallet has been involved in these tests, conducting several test transfers with the USD1 stablecoin. These tests included cross-chain technology trials between the Ethereum and BNB Chain networks, as analyzed by a crypto trader.

WLFI had previously announced its plans to develop a native stablecoin, with a focus on ensuring safety and reliability before its market release. The deployment of USD1 follows the project's successful completion of $550 million in token sales earlier this month. Zak Folkman, the project’s co-founder, stated that these sales were just the initial steps in their broader strategy.

Folkman hinted at upcoming product launches in a recent conversation with Chainlink’s co-founder Sergey Nazarov, suggesting that there would be significant announcements in the coming weeks. WLFI has formed partnerships with blockchain protocols such as Chainlink and Aave to enhance its DeFi offerings and utilize decentralized oracle services.

Folkman revealed that WLFI is developing three main products, two of which are already completed and ready for launch. One of these products is a lend-and-borrow market powered by smart contracts, while the other is a protocol focused on real-world assets (RWAs). The first product remains undisclosed.

Unlike traditional DeFi lending platforms that rely on decentralized autonomous organizations (DAOs), WLFI plans to manage its lending market through its own governance process. This approach allows the company to maintain control and tailor the platform to meet the specific needs of its users, particularly those from traditional financial institutions.

The testing of USD1 on the BNB Chain marks a significant step for WLFI as it continues to expand its DeFi offerings and integrate with major blockchain protocols. The project's focus on safety, reliability, and strategic partnerships positions it for potential growth in the DeFi space.