The world's largest cryptocurrency exchange, Binance, has announced the listing of USD1 based on trading volume. As a result, the trading volume of stablecoins has surged into double digits.
This US dollar-pegged stablecoin was developed by World Liberty Financial (WLFI), a decentralized finance (DeFi) protocol supported by former President Donald Trump and his family.
Binance Announces Listing of Stablecoin USD1
According to Binance's official announcement, USD1 can be traded with Tether (USDT).
"Binance will list World Liberty Financial USD (USD1) and start trading on the following spot trading pairs on May 22, 2025, at 12:00 (UTC)," the exchange wrote.
Deposits of USD1 are now possible on Binance. Users can prepare for trading. Withdrawals will be available from May 23 at 12:00 UTC, when the trading pairs are activated.
Following this news, USD1's trading volume surged from approximately $72 million to over $95 million, representing a 31.9% increase. Additionally, according to CoinGecko data, USD1's trading volume has skyrocketed by 626.5% in the past 24 hours.
This Binance listing follows USD1's recent developments. Cryptocurrency exchange Kucoin also added it on May 21. The exchange started spot trading of USD1 at 11:00 UTC, indicating growing interest in stablecoins.
"Kucoin is very proud to have another great project added to our spot trading platform. USD1(USD1) is now available on Kucoin!" the announcement read.
These exchange listings are a significant milestone for USD1, which was launched two months ago. Nevertheless, it has established itself as one of the fastest-growing stablecoins in the market, with a market capitalization exceeding $2.1 billion.
Meanwhile, BeInCrypto reported that World Liberty Financial plans to airdrop USD1 to qualified WLFI holders. The airdrop proposal posted on May 7 passed with overwhelming support a week later. 6.8 billion users voted in favor of the airdrop. The team stated they will soon announce the full details of the airdrop.
Beyond exchange listings, USD1 has gained significant attention by playing a crucial role in high-profile institutional trades. MGX, an investment company based in Abu Dhabi, chose USD1 to settle a $2 billion investment in Binance.
However, the stablecoin's rapid rise could not go unnoticed. Due to its political connections with the Trump family, some legislators have raised concerns about potential conflicts of interest. Despite these concerns, Binance's support indicates strong market confidence in the stablecoin's potential.
