Canton Network Welcomes World Liberty's $4B USD1 Stablecoin

World Liberty Financial (WLFI), the blockchain firm affiliated with Donald Trump's family, has successfully deployed its USD1 stablecoin on the Canton Network. The market capitalization of this stablecoin is a significant $4 billion.

This move follows World Liberty Trust Company, an affiliate entity, receiving preliminary conditional approval from the Office of the Comptroller of the Currency (OCC) for a national trust charter. This development will enable WLFI to eventually self-issue USD1 without relying on BitGo.

Canton Network is set to support DTC's tokenization service launch in October, which has increased the need for more on-chain settlement options on the network. The Canton Network has previously run trials with various tokenized deposit solutions.