Binance has recently taken bold steps by introducing numerous zero-fee trading pairs linked to the Trump family’s stablecoin, USD1, and utilizing this coin to back its collateral.

The world’s leading cryptocurrency exchange announced that it has expanded the support for World Liberty Financial’s USD1 stablecoin with fee-free trading pairs for significant cryptocurrencies such as Ether (ETH), Solana (SOL), and BNB, in addition to Bitcoin (BTC).

Previously, Binance declared it would convert its existing collateral assets securing the BUSD stablecoin to 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 stated.

Enhancing Access to USD1 on Binance

Zach Witkoff, CEO of World Liberty Financial, expressed his enthusiasm regarding this partnership:

“Binance’s expansion of USD1 marks an important moment in WLFI’s effort to make digital US dollar stablecoins available to people everywhere.”

USD1, supported by US Treasury bills, was launched on Ethereum and BNB Chain last March and has attained the status of the seventh-largest stablecoin worldwide, valued at $2.7 billion, following a significant investment decision from Abu Dhabi’s MGX firm that involved USD1 for a $2 billion investment in Binance.

Despite its success, USD1 has not seen any new issuances for months, and its total supply has slightly reduced from a high of $3 billion registered late last October, as per CoinGecko’s data.

Recent Development: Trump Pardons Binance’s Founder

Donald Trump recently pardoned Binance founder Changpeng Zhao, who had faced a four-month prison sentence after pleading guilty related to inadequate Anti-Money Laundering (AML) practices at Binance.
Trump commented that the decision came in light of support he received, indicating, “What he did is not even a crime.”

USD1 market capitalization declines. Source: CoinGecko