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World Liberty Financial (WLFI) has revealed plans to launch USD1, a US dollar-pegged stablecoin on Ethereum and Binance Smart Chain. Backed by US Treasury bills, fiat deposits, and cash equivalents, USD1 will be audited by a third-party firm and held by BitGo. WLFI aims to challenge USDT and USDC with a hybrid decentralized finance approach.
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