Binance cozies up to Trumps crypto platform with USD1 stablecoin links

Binance added a host of zero-fee trading pairs for the Trump familys stablecoin and used it to back its own stablecoin collateral.

The world‘s largest crypto exchange, Binance, has expanded its listings to include more trading pairs tied to the Trump family’s stablecoin.

Binance announced on Thursday that it has expanded support for World Liberty Financials USD1 stablecoin by adding fee-free trading pairs for major tokens, including Ether (ETH), Solana (SOL) and BNB (BNB) in addition to its already listed Bitcoin (BTC).

The exchange said it would also convert all collateral assets backing its stablecoin, BUSD, into USD1 at a 1:1 ratio, within a week.

“The transition means USD1 will become an integral part of Binance‘s updated collateral structure, further embedding the stablecoin within the exchange’s ecosystem,” Binance said.

Increasing access to USD1 on Binance

Zach Witkoff, co-founder and CEO of World Liberty Financial, praised the move, stating, “Binance‘s expansion of USD1 marks an important moment in WLFI’s effort to make digital US dollar stablecoins available to people everywhere.”

USD1 is backed by US Treasury bills and launched on Ethereum and BNB Chain in March.

It has grown to become the seventh-largest stablecoin with a market capitalization of $2.7 billion, bolstered by a decision from Abu Dhabis investment firm, MGX, to use USD1 for a $2 billion investment in Binance in May

However, there has been no new issuance of USD1 for months, and the supply has declined slightly from its peak of $3 billion in late October, according to CoinGecko.

USD1 market capitalization declines. Source: CoinGeckoTrump recently pardons Binance founder

Alongside his sons, President Donald Trump is a co-founder of World Liberty Financial and pardoned Binance founder Changpeng Zhao seven weeks ago.

Zhao was sentenced to four months in prison in April 2024 after pleading guilty to failing to implement an adequate Anti-Money Laundering (AML) program at Binance.

Trump said he pardoned Zhao after the Binance founder saw support from “a lot of people” who told him “what he did is not even a crime.”