Eric Trump: WLFI's stablecoin USD1 will be used to complete MGX's $2 billion investment in Binance

05/01/2025, 09:33 AM

PANews reported on May 1 that according to CoinDesk, Eric Trump, son of US President Trump, said that the US dollar-denominated stablecoin USD1 issued by World Liberty Financial (WLFI) has been officially selected as the official stablecoin for Abu Dhabi investment institution MGX to complete its $2 billion investment in Binance. Eric Trump said at the Token2049 event held in Dubai: "We thank MGX and Binance for their trust in us, and I think this is just the beginning."

Earlier this year, Abu Dhabi-based investment firm MGX acquired a $2 billion stake in Binance. World Liberty Financial announced plans in March to issue a dollar-backed stablecoin in partnership with BitGo.

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