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Binance Adds New Trading Pairs for Trump Family’s USD1 Stablecoin

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Binance has widened entry to the Trump household–linked USD1 stablecoin, including new fee-free buying and selling pairs because the token beneficial properties a bigger foothold on the trade.

Key Takeaways:

  • Binance expanded USD1 buying and selling with new zero-fee pairs and can totally exchange BUSD collateral with USD1.
  • USD1 has quickly grown to a $2.7B market cap, backed by US Treasuries and supported by main Abu Dhabi funding flows.
  • The token’s rise comes amid renewed political consideration and Binance’s regulatory beneficial properties in Abu Dhabi.

The company confirmed on Thursday that customers can now commerce USD1 towards Ether, Solana and BNB, becoming a member of its present Bitcoin pair.

Binance Retires BUSD, Makes USD1 Its Primary Collateral Asset

The transfer deepens Binance’s integration of USD1 and comes because the trade will convert all remaining BUSD collateral into USD1 at a one-to-one price inside per week.

The choice successfully retires BUSD from Binance’s inner construction and positions USD1 as its main dollar-pegged asset for collateral use.

Binance stated the conversion displays a broader replace to its collateral framework, describing USD1 as “an integral half” of the trade’s ecosystem going ahead.

World Liberty Financial CEO Zach Witkoff welcomed the growth, calling it a milestone for a stablecoin that launched solely in March.

USD1, backed by U.S. Treasury payments and issued on Ethereum and BNB Chain, has climbed to the seventh-largest stablecoin with a market worth of $2.7 billion.

Its fast ascent was boosted in May when Abu Dhabi funding agency MGX deployed USD1 for a $2 billion funding on Binance.

Despite early momentum, provide has dipped barely from its $3 billion peak in late October, with no new tokens minted for a number of months, based on CoinGecko information.

World Liberty Financial was co-founded by President Donald Trump and his sons, giving USD1 an unusually political profile within the stablecoin market.

The involvement drew additional consideration after Trump pardoned Binance founder Changpeng Zhao seven weeks in the past.

Zhao had been sentenced to 4 months in jail in April 2024 for failing to implement sufficient anti-money laundering controls on the trade.

Trump later stated he issued the pardon after listening to broad assist for Zhao and insisting the offense “just isn’t even against the law.”

The transfer additionally comes as Binance has secured three new licences in Abu Dhabi, tightening its grip on probably the most bold digital asset hubs within the Middle East and giving the trade a robust regulatory base because it pushes to maintain institutional cash on aspect.

The Financial Services Regulatory Authority of Abu Dhabi Global Market has accredited Binance.com to function via a trio of regulated entities that collectively cowl trade, clearing and dealer supplier actions.

Binance Eyes US Comeback After Trump Pardons Founder Changpeng Zhao

Binance is reportedly exploring ways to re-enter the US market following Trump’s pardon of CZ.

The trade is weighing choices resembling merging its US affiliate with its world platform or permitting its fundamental trade to serve American customers instantly.

Zhao’s pardon, granted after his 2023 responsible plea for anti–cash laundering violations, has reignited scrutiny amid Binance’s $2 billion take care of Trump’s family-backed crypto enterprise, World Liberty Financial.

The clemency removes prior authorized obstacles that had restricted his involvement in Binance operations.

Legal consultants say the transfer successfully reinstates Zhao’s means to interact in enterprise choices, giving the corporate’s management a significant enhance because it eyes renewed US entry.

Zhao, whose internet price stands at $61.4 billion, stays probably the most highly effective figures in crypto, overseeing an ecosystem with $8.7 billion in on-chain property.

The pardon comes as Trump continues to court docket the digital asset trade, along with his household reportedly earning over $1 billion from crypto ventures.

The submit Binance Adds New Trading Pairs for Trump Family’s USD1 Stablecoin appeared first on Cryptonews.

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