USD1 Stablecoin Launches on Canton Network, Valued at $4.05 Billion

World Liberty Financial's USD1 stablecoin has been launched on the Canton Network, one of the fastest-growing institutional blockchain networks in finance. The company confirmed that the USD1 stablecoin is now valued at $4.05 billion and is issued natively on the Canton Network.

This move allows banks, asset managers, and other institutions to settle tokenized securities and cash payments inside a single, synchronized transaction, cutting settlement risk. World Liberty's CEO Zach Witkoff noted that USD1 saw $1.7 billion in volume over the trailing 24 hours, with over $4 billion of USD1 in circulation.

The USD1 stablecoin is fully reserved and redeemable for U.S. dollars on a one-to-one basis, backed by U.S. government money market funds, dollar deposits, and other cash equivalents. World Liberty's parent company has an interest held by an entity affiliated with President Donald Trump, which has raised concerns about conflict of interest.

The OCC granted World Liberty Trust Company conditional charter approval on August 14, but final authorization is still pending. Once approved, the trust company will assume responsibility for USD1 issuance, redemption, and reserve management previously handled by BitGo Bank & Trust.