What is World Liberty Financial (WLFI) and USD1?

World Liberty Financial is a decentralized finance (DeFi) venture that issues two tokens. WLFI is a governance token that gives holders a vote on the project's decisions. USD1 is a stablecoin designed to be redeemable one for one with US dollars. The project is publicly backed by President Donald Trump and his family.

What is World Liberty Financial?

The WLFI token went on sale on October 15, 2024. A 13-page document the project called its Gold Paper, released that month, set out who receives revenue. According to CNBC's reporting, DT Marks DEFI LLC, a company connected to Donald Trump, was set to receive 75% of net protocol revenue, and the paper said Trump and his family are not directors, employees or operators of the company. The other 25% was assigned to a company owned by the co-founders Chase Herro and Zachary Folkman, which agreed to share part of it with an affiliate of Steve Witkoff.

The website lists several products, including a lending and borrowing market, a bridge for moving its tokens between blockchains, and a payments toolkit for AI agents. Some features were marked as coming soon as of October 2026.

What is the WLFI token?

WLFI is a governance token. Holders can propose and vote on changes to the project. The tokens could not be transferred at first. Holders voted in July 2025 to make them tradable, and trading opened on exchanges including Binance on September 1, 2025.

The total supply is 100 billion WLFI. About a quarter was circulating at launch, and early buyers could unlock 20% of their tokens at first, The Block reported. The official site says the token runs on Ethereum, BNB Chain and Solana. Reuters reported that the Trump family had made about $500 million from the project by the time trading began. The White House said the president's assets are held in a trust run by his children and that there are no conflicts of interest.

What is the USD1 stablecoin?

USD1 is a dollar stablecoin announced in March 2025. The company said it would be backed by short-term US Treasuries, dollar deposits and other cash equivalents, with BitGo holding the reserves. It launched on Ethereum and BNB Chain and later added other networks, including Solana and Tron. The USD1 page says reserves are checked in monthly attestation reports.

In August 2026, World Liberty Trust Co, part of the venture, received conditional approval from the Office of the Comptroller of the Currency to form a national trust bank. It plans to issue and manage USD1 and offer custody services. It must meet conditions, including holding at least $20 million in capital, before final approval. The trust bank would not take deposits or make loans. At that time USD1 had more than $4 billion in circulation.

Like any stablecoin, USD1 depends on its issuer and reserves, and it is not covered by deposit insurance.