Trump-Backed WLF Plans USD1 Audit and New Crypto App: Report
Trump-backed crypto firm World Liberty Financial (WLF) is making waves with big plans for its USD1 stablecoin. The company is preparing to release its first audit report and launch a user-friendly mobile app aimed at everyday crypto users.
The updates were disclosed by WLF co-founder Zak Folkman in an interview at the Permissionless conference in Brooklyn on June 25. The upcoming audit will show the reserves backing USD1, which already holds a $2.2 billion market cap just months after launching in March.
The stablecoin is backed by U.S. dollar deposits, Treasuries, and cash equivalents, and runs on Ethereum, BNB Chain, and TRON, with BitGo as custodian.
Folkman confirmed that monthly reserve reports will follow the initial audit to boost…
