PANews reported on March 25 that the Trump family's crypto project World Liberty Financial Inc. (WLFI) officially announced plans to launch the stablecoin USD1, which can be exchanged for US dollars at a 1:1 ratio and will be 100% backed by short-term U.S. government bonds, U.S. dollar deposits and other cash equivalents. It will initially be minted on the Ethereum (ETH) and Binance Smart Chain (BSC) blockchains, and plans to expand to other protocols in the future. It is reported that the USD1 reserve will be hosted by BitGo.