USD1 Stablecoin Surpasses $4 Billion in Circulation Amid Regulatory Progress

World Liberty Financial's USD1 stablecoin has surpassed $4 billion in circulation, driven by strong institutional demand. According to CEO Zach Witkoff, the growth reflects genuine market interest rather than any potential ties to the Trump administration.

The USD1 stablecoin launched in March 2025 and has since become one of the largest dollar-backed cryptocurrencies on the market. Its early growth was fueled by a single large deal: Abu Dhabi-backed investment fund MGX used USD1 for its $2 billion Binance investment in May 2025, giving the token a significant boost in credibility.

However, this also tied much of its supply to one exchange, and circulation dropped below that peak level. World Liberty Financial says it remains above $4 billion today, with the stablecoin available on several major exchanges including Coinbase, Kraken, and Crypto.com.

The company's regulatory progress is also notable, with the OCC giving preliminary conditional approval for a related trust bank on August 14. However, lawmakers continue to question foreign ownership links tied to the company, which are reportedly connected to the Trump family through a firm controlled by Steve Witkoff, Zach's father.