World Liberty Financial, a decentralized finance project backed by the Trump family, has minted $205 million worth of its stablecoin, USD1, significantly increasing its treasury holdings to a record $548 million. This minting occurred shortly after Federal Reserve Governor Christopher Waller delivered a speech praising stablecoins at a blockchain conference in Wyoming. Waller highlighted the potential of stablecoins to enhance the international role of the dollar and improve payment systems. Following the mint, USD1 has become the sixth-largest stablecoin by market capitalization. The project has grown rapidly since its launch in April, now holding $212 million in its treasury, totaling 39% of its investment portfolio. The recent developments are positioned against the backdrop of the GENIUS Act, aimed at regulating stablecoins, which Waller described as crucial for the stablecoin market's future.

Source 🔗