Trump’s World Liberty Financial crypto venture to launch stablecoin

Donald Trump’s World Liberty Financial crypto venture will launch a dollar-pegged stablecoin, it said in a statement on Tuesday, after raising more than half a billion dollars from selling a separate digital token.

The stablecoin, called USD1, will be fully backed by U.S. Treasuries, dollars and other cash equivalents and is designed to keep a value of $1, World Liberty said in the statement.