Last Updated: November 4, 2026
USD1 is a US dollar stablecoin issued by World Liberty Financial, the crypto company co-founded by members of the Trump family, and minted and held in custody by BitGo Bank & Trust, N.A. Each USD1 is meant to be redeemable 1:1 for dollars and is backed by cash and US government money market funds, with monthly reserve attestations examined by KPMG.
As of November 4, 2026, about 3.72 billion USD1 are in circulation (CoinMarketCap, 10:52 UTC), down from about 4.43 billion on October 6, which makes it the fifth-largest stablecoin in CoinMarketCap’s stablecoin category. USD1 is not yet regulated as a payment stablecoin under the GENIUS Act: the law and the Office of the Comptroller of the Currency’s (OCC) final rule both take effect on January 18, 2027, and World Liberty’s own trust bank, which plans to take over issuance from BitGo, holds only a conditional OCC charter.
Key Takeaways
- USD1 is a fiat-backed dollar stablecoin from World Liberty Financial (WLFI). BitGo Bank & Trust, N.A. is its current issuer and custodian.
- Reserves are cash in bank demand deposit accounts and US government money market funds. KPMG’s attestation for July 31, 2026 showed $4.00 billion of redemption assets against 3.997 billion tokens outstanding.
- Supply has been falling: about $4.43 billion on October 6, about $4.02 billion on October 19 and about $3.72 billion on November 4, 2026, with no sustained loss of the $1 peg.
- USD1 runs on Ethereum, BNB Chain, Tron, Solana, Aptos and several newer networks, including Stripe’s Tempo, where it launched natively in May 2026.
- World Liberty Trust Co. won preliminary conditional approval for a national trust bank charter from the OCC on August 14, 2026; it is not open yet.
- Entities linked to the Trump family and to Abu Dhabi’s Sheikh Tahnoon bin Zayed hold large stakes in World Liberty, which is why USD1 is a frequent subject of conflict-of-interest reporting.
USD1 Price Today
| Metric | Value (CoinMarketCap, November 4, 2026, 10:52 UTC) |
|---|---|
| Price | $0.9981 |
| Market cap | $3.71 billion |
| 24h trading volume | $908 million |
| Circulating supply | 3.72 billion USD1 |
| Overall rank | #26 |
| Stablecoin rank | #5 in CoinMarketCap’s stablecoin category (behind USDT, USDC, USDe and DAI) |
Live data: CoinMarketCap and CoinGecko. A stablecoin’s price should stay within a fraction of a cent of $1.00. A larger gap usually signals peg stress rather than normal price movement. For the wider market, see today’s crypto market overview.
Why Is USD1’s Market Cap Falling?
USD1’s supply shrinks when holders redeem tokens for dollars and the issuer burns them. Cointelegraph reported on October 19, 2026 that USD1’s market cap fell by about $401 million (9.1%) in two weeks, from about $4.43 billion on October 6 to about $4.02 billion, citing CoinGecko. Onchain Benchmark data in the same report showed $184.6 million of net redemptions on Ethereum, almost all routed through a BitGo wallet, and about $200 million on BNB Chain, nearly all from a single unidentified address. Supply on Solana stayed flat at about $1.42 billion, and USD1 traded between $0.998 and $1.000. No reason for the redemptions was given. By November 4 the supply had fallen further, to about $3.72 billion on CoinMarketCap.
What Is USD1?
USD1 is a fiat-collateralized stablecoin from World Liberty Financial, the same company behind the WLFI governance token. World Liberty’s USD1 page says the token is “100% backed by U.S. cash, U.S. government money market funds, and other cash equivalents” and “redeemable 1:1 for U.S. dollars”.
World Liberty announced USD1 in March 2025, with Ethereum and BNB Chain as the first networks, and aimed it at institutions, trading venues and DeFi rather than everyday retail payments. Its first large use was a settlement deal: in May 2025, Abu Dhabi state-backed investor MGX said it would use $2 billion of USD1 to fund its investment in Binance, as reported by Reuters and The New York Times. That deal, plus exchange incentive campaigns, made Binance by far the largest holder of the token. Forbes reported in February 2026 that Binance held about 87% of USD1 in circulation.
USD1 is a separate product from the WLFI governance token and from the TRUMP memecoin. Holding USD1 gives no voting rights and no exposure to WLFI’s price.
How USD1 Works
USD1 follows the standard model of a reserve-backed stablecoin:
- Minting: an approved institutional client sends dollars to the issuer, and the same amount of USD1 is created on the chosen blockchain.
- Holding: the dollars are kept as cash and in government money market funds in custody at BitGo Bank & Trust, N.A.
- Redeeming: the client returns USD1, the tokens are burned, and dollars are paid out. Retail users usually do not redeem directly; they buy and sell USD1 on exchanges or decentralized exchanges.
Two checks support the peg. First, BitGo publishes a monthly reserve attestation in which an independent accounting firm examines management’s statement that the reserves cover the tokens outstanding, using the AICPA’s 2025 criteria for asset-backed fiat-pegged tokens. BitGo’s attestation page lists monthly reports from April 2025 through September 2026. Second, World Liberty runs a proof-of-reserves dashboard fed by a Chainlink oracle on Ethereum, which the site itself labels as informational only.
Latest reserve figures we could read (KPMG attestation, signed August 27, 2026):
| Item | July 15, 2026 | July 31, 2026 |
|---|---|---|
| USD1 tokens outstanding | 4,334,655,648 | 3,996,528,668 |
| Redemption assets | $4,339,943,401 | $4,000,867,230 |
| Cash in demand deposit accounts | $1,150,991,510 | $1,101,473,492 |
| Government money market funds | $3,188,951,891 | $2,899,393,738 |
On July 31, 2026, reserves exceeded tokens outstanding by about $4.3 million, a coverage ratio of about 100.1%. An attestation is a point-in-time check, not a full financial audit of the issuer.
Interest earned on the reserves goes to the issuer and World Liberty-affiliated entities, not to holders. Holding USD1 earns no yield by itself; any return comes from lending it on a DeFi protocol or from exchange promotions, which carry their own risks.
Which Blockchains Support USD1
- Ethereum and BNB Chain: the original launch networks and still the deepest liquidity. Both use the same contract address, 0x8d0D000Ee44948FC98c9B98A4FA4921476f08B0d (CoinMarketCap).
- Tron: a major network for dollar-stablecoin transfers.
- Solana: about $1.42 billion of USD1 sat on Solana in mid-October 2026, according to Onchain Benchmark data cited by Cointelegraph.
- Aptos: listed by CoinMarketCap as a supported platform.
- Newer networks: DefiLlama’s stablecoin tracker also lists USD1 on Monad, Plume and AB Core, and World Liberty launched USD1 natively on Tempo, the Stripe-backed payments blockchain, in May 2026.
Always check the contract address on the official World Liberty site or CoinMarketCap before you add USD1 to a wallet; fake tokens with the same name exist on most chains. World Liberty uses Chainlink’s Cross-Chain Interoperability Protocol (CCIP) for moving USD1 between networks. Circle’s CCTP works only with USDC, so it is not an option for USD1.
USD1 and World Liberty Financial
- Founders: World Liberty Financial was founded in 2024 by Zachary Folkman, Chase Herro, Zach Witkoff and Alex Witkoff together with members of the Trump family, including Donald Trump Jr.
- Trump family stake: a Trump family business entity originally held 60% of World Liberty’s equity; Forbes reported in June 2025 that the stake had been cut to 40%. The entity remains entitled to 75% of net WLFI token sale revenue, according to The Wall Street Journal (December 2025), which also estimated that the family had earned about $1 billion from token sales by then.
- Abu Dhabi investors: The Wall Street Journal reported on February 1, 2026 that interests tied to Sheikh Tahnoon bin Zayed, the UAE’s national security adviser, agreed to buy 49% of World Liberty for $500 million days before the January 2025 inauguration. On August 27, 2026 the Journal reported that Tahnoon and co-investors hold 49% of WLTC Holdings, the parent of the planned World Liberty trust bank, and a Trump-affiliated entity about 38%. See our report on Sheikh Tahnoon’s 49% stake in World Liberty’s bank holding company.
- Trust bank charter: World Liberty Trust Co. applied for a national trust bank charter in January 2026 and received preliminary conditional approval from the OCC on August 14, 2026. It plans to issue USD1 to institutional clients and hold reserves as a fiduciary, taking over from BitGo once it meets the OCC’s preopening requirements. It does not plan to take insured deposits or seek a Federal Reserve master account (CoinDesk). More in our report on how World Liberty Trust cleared its first OCC hurdle.
- Political scrutiny: Democratic lawmakers, led by Sen. Elizabeth Warren, objected to the charter because President Trump partly owns World Liberty entities, and introduced the “Ending Presidential Corruption in Banking Act” after the approval. Separately, the Independent Community Bankers of America sued the OCC in federal court in Washington, D.C. in early October 2026, arguing that national trust charters for crypto firms exceed the agency’s authority; the suit does not name World Liberty.
Is USD1 Regulated Under the GENIUS Act?
Not yet in full. The GENIUS Act, the US federal stablecoin law signed on July 18, 2025, requires payment stablecoins to be issued by approved issuers, backed 1:1 by cash, Treasury bills and similar liquid assets, with monthly public reserve reports, and it bars issuers from paying interest to holders. On October 21, 2026, the OCC issued its final rule implementing the Act (OCC Bulletin 2026-50). The rule and the Act’s main provisions both take effect on January 18, 2027. Anti-money-laundering and sanctions rules will follow in a separate rulemaking with the Treasury.
What this means for USD1 today:
- Reserves and reporting: USD1’s reserve mix (cash and government money market funds) and its monthly attestations already resemble what the Act requires.
- Issuer: USD1 is issued by BitGo Bank & Trust, N.A., an OCC-chartered trust bank. If World Liberty Trust Co. opens, it would become the issuer, subject to the OCC’s new stablecoin rule.
- Not insured: neither the Act nor the charter makes USD1 a bank deposit. It is not covered by FDIC insurance.
USD1 vs. USDT vs. USDC
Blockchainreporter’s comparison below sets USD1 against the two largest dollar stablecoins on the points buyers ask about most.
| USD1 | USDT | USDC | |
|---|---|---|---|
| Issuer | World Liberty Financial (issued by BitGo Bank & Trust, N.A.) | Tether | Circle |
| Market cap (CoinMarketCap, Nov 4, 2026) | $3.71 billion | $178.1 billion | $70.6 billion |
| Reserve assets | Cash, government money market funds | Mostly US Treasury bills, plus gold, bitcoin and other assets | Cash and short-dated Treasuries, largely in the BlackRock-managed Circle Reserve Fund |
| Reserve reports | Monthly attestation (KPMG) | Quarterly attestation (BDO) | Monthly attestation (Deloitte) |
| Main networks | Ethereum, BNB Chain, Tron, Solana, Aptos, Tempo and others | Tron, Ethereum and many others | Ethereum, Solana, Base and many others |
| Main use | Institutional settlement, exchange collateral, DeFi | Trading pairs, cross-border payments | Regulated payments, DeFi |
USD1 is about one fiftieth the size of USDT and about one twentieth the size of USDC, and its supply depends heavily on a few large holders. Its differences are its issuer’s political connections and its access to large settlement deals, such as the MGX investment in Binance, rather than broad retail use.
Risks Worth Knowing
Is USD1 Safe?
USD1’s reserves are simple and liquid (cash and government money market funds), held at a federally chartered trust bank and examined monthly by KPMG, which is a stronger setup than many smaller stablecoins. The main risks are elsewhere:
- Peg stress: on February 23, 2026, USD1 briefly fell to about $0.994 before recovering above $0.999 the same day, Cointelegraph reported. World Liberty blamed a coordinated attack involving hacked co-founder social media accounts and short sellers of WLFI; that account has not been independently verified.
- Supply concentration: Binance has held most of the supply (about 87% in February 2026, per Forbes), and a handful of addresses drove the October 2026 redemptions. Large holders leaving can shrink liquidity quickly. Binance itself suffered a hack of about $6.3 billion on October 29, 2026, which the FBI attributed to North Korea’s TraderTraitor; see is Binance safe for the latest status.
- Central control: like USDT and USDC, USD1 can be frozen at specific addresses by the issuer. It is not legal tender and is not deposit-insured.
- Issuer and political risk: World Liberty faces congressional criticism over conflicts of interest, and Tron founder Justin Sun sued the company in April 2026, alleging his WLFI tokens were frozen and his voting rights denied (BBC). These issues do not change the reserve backing, but they could affect institutional trust or the timing of the trust bank charter.
- Issuer transition: moving issuance from BitGo to World Liberty Trust Co. would change who holds the reserves. The bank still has to pass the OCC’s preopening examination.
Where to Buy USD1
- Binance: the deepest liquidity, with pairs such as USD1/USDT. Check the current status of Binance deposits and withdrawals before moving funds after the October 29 hack.
- Coinbase: lists USD1 after adding it to its roadmap in 2025.
- Other exchanges: Kraken, OKX, Bybit, KuCoin, Gate, MEXC and Bitget all list USD1; CoinMarketCap tracked 421 spot USD1 pairs on November 4, 2026. Availability depends on your country.
- DEXs: PancakeSwap on BNB Chain and Raydium on Solana for on-chain swaps.
- Self-custody: wallets that support USD1’s networks, such as MetaMask on Ethereum or BNB Chain and Phantom on Solana, can hold the token. Add it with the official contract address.
Frequently Asked Questions
What is USD1 stablecoin?
USD1 is a US dollar stablecoin issued by World Liberty Financial, the crypto company co-founded by Trump family members, and currently minted and held in custody by BitGo Bank & Trust. Each token is meant to be redeemable for one dollar and is backed by cash and government money market funds, with monthly reserve attestations and a proof-of-reserves dashboard fed by a Chainlink oracle.
How much USD1 is in circulation?
About 3.72 billion USD1 were in circulation on November 4, 2026, according to CoinMarketCap, which ranks it fifth in its stablecoin category. Supply was about 4.43 billion on October 6 and about 4.02 billion on October 19, so it has shrunk as large holders redeemed tokens for dollars. The peg held between $0.998 and $1.000 during that period.
Who audits USD1 reserves?
KPMG examined USD1’s July 2026 reserve report, which showed $4.00 billion of redemption assets against 3.997 billion tokens on July 31, 2026. BitGo publishes these attestations monthly, with reports listed from April 2025 to September 2026. An attestation checks reserves at specific dates against the tokens outstanding; it is not a full audit of the issuer’s finances.
Who owns USD1 stablecoin?
World Liberty Financial issues USD1 and controls the brand. A Trump family business entity holds about 40% of World Liberty’s equity, according to Forbes, and is entitled to 75% of net WLFI token sale revenue. Interests tied to Abu Dhabi’s Sheikh Tahnoon reportedly hold 49%. The reserves themselves sit with the custodian, BitGo Bank & Trust, not with World Liberty.
Is USD1 safe?
USD1 is backed by cash and government money market funds at a federally chartered trust bank, with monthly KPMG attestations, which is a sound reserve setup. It briefly fell to about $0.994 in February 2026 and recovered the same day. Supply is concentrated among a few large holders, the issuer can freeze addresses, and USD1 is neither legal tender nor deposit-insured.
Is USD1 regulated under the GENIUS Act?
Not yet in full. The GENIUS Act and the OCC’s final stablecoin rule, issued on October 21, 2026, both take effect on January 18, 2027. USD1 is issued today by an OCC-chartered trust bank, and its reserve mix and monthly reports already resemble the Act’s requirements. World Liberty’s own trust bank holds only a conditional charter.
Does USD1 pay interest?
No. Interest earned on USD1’s reserves goes to the issuer and World Liberty-affiliated entities, not to holders, and the GENIUS Act bars payment stablecoin issuers from paying interest to holders. Any return on USD1 comes from lending it on a DeFi protocol or from exchange promotions, which add smart contract, platform and counterparty risks that the reserves do not cover.
Which blockchain is USD1 on?
USD1 runs natively on several blockchains, including Ethereum, BNB Chain, Tron, Solana and Aptos, plus newer networks such as Monad, Plume and the Stripe-backed Tempo chain, where it launched in May 2026. Ethereum and BNB Chain share one contract address. World Liberty uses Chainlink’s Cross-Chain Interoperability Protocol to move USD1 between networks.
How do I buy USD1 stablecoin?
Open an account on an exchange that lists USD1, such as Binance, Coinbase, Kraken, OKX or Bybit, deposit funds and buy USD1 directly or swap USDT or USDC for it. On-chain, PancakeSwap and Raydium offer USD1 pairs. Withdraw to a wallet on a supported network and confirm the official contract address before adding the token.
Is USD1 the same as the WLFI token or the TRUMP memecoin?
No. USD1 is a dollar stablecoin designed to stay at $1. WLFI is World Liberty Financial’s governance token, whose price moves with the market and which gives voting rights in the project. The TRUMP memecoin is a separate token launched in January 2025 by other Trump-linked entities and has no link to USD1’s reserves.
Data sources: CoinMarketCap data API (November 4, 2026, 10:52 UTC), World Liberty Financial USD1 and proof-of-reserves pages, BitGo USD1 attestation page and KPMG attestation report for July 2026, OCC Bulletin 2026-50, DefiLlama stablecoins, reporting by Cointelegraph, CoinDesk, The Wall Street Journal, Forbes, Reuters, The New York Times and BBC.
