Bitget launches WLFi-issued stablecoin USD1, supporting ETH and BSC chains

PANews reported on May 26 that according to a Bitget announcement, the stablecoin USD1 issued by World Liberty Financial has officially launched in its Innovation Zone and Web3 Zone, with supported trading pairs being USD1/USDT and USD1/USDC. USD1 is 100% backed by short-term U.S. Treasury bonds, U.S. dollar deposits, and other cash equivalents. It was initially issued on the Ethereum and BSC chains, with plans to expand to other chains. Withdrawals will be open on May 27 at 11:00 (UTC).