World Liberty Financial, a cryptocurrency venture created by President Trump and his son, announced plans to launch Stablecoin on Tuesday.
Stablecoin, USD1 is fixed to US dollars. Stablecoins are cryptocurrencies tied to assets such as Fiat Currency to maintain a more stable price.
“Meet USD1 – Stubcoins your portfolio is waiting for,” World Liberty Financial wrote in X.
The Trump family announced their crypto venture last September in the final months of the president's campaign, during which Trump emerged as a key supporter in the industry.
World Liberty Financial announced last week that it had brought in $550 million from two sets of token sales. Companies connected to Trump can receive 75% of their revenue.
The industry's president's embrace has been translated into other crypto ventures for himself and his family in recent months. He and first lady Melania Trump launched a widely considered meme coin just days before Trump took office.
Trump Media and Technology Group, the parent company of Truth Social, announced a new partnership with Crypto.com on Monday, launching a series of Exchange Traded Funds (ETFs).
According to a press release, ETFs are set to compromise on digital assets and securities.
The president owns around 115 million shares in Trump Media, who is currently sitting in the Trust, but his son, Donald Trump Jr., is on the company's board of directors.
Trump also set out to create crypto-friendly management in his first two months of office.
Earlier this month, he hosted the White House industry leaders with Artificial Intelligence (AI) and Crypto Czar David Sacks, signing an executive order to create a Bitcoin reserve and a stockpile of digital assets.
