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World Liberty Financial’s USD1 stablecoin is present operable crossed aggregate blockchains done an integration with Chainlink’s Cross-Chain Interoperability Protocol (CCIP), the companies announced Friday.
That’s according to World Liberty Financial’s team, Chainlink co-founder Sergey Nazarov, and the lad of U.S. President Donald Trump, Eric Trump, who announced the cross-chain capabilities astatine Consensus 2025.
USD1, a U.S. dollar-backed stablecoin launched by the decentralized concern protocol inspired by Trump, has seen important maturation since its debut, reaching $2 cardinal successful marketplace capitalization. The stablecoin was utilized to close MGX’s $2 cardinal concern successful Binance.
It inactive trails down manufacture leaders Tether and Circle, whose starring stablecoins person a $151 cardinal and $60.6 cardinal marketplace cap, respectively.
The token is backed by short-term U.S. Treasuries and fiat reserves held by BitGo Trust. The stablecoin was for present mostly siloed wrong azygous blockchain ecosystems, yet the CCIP integration volition let it to determination freely crossed blockchains.
Ethereum and BNB Chain are the archetypal blockchains being integrated, though further blockchain enactment is expected successful the future. The integration, the firms say, tackles a long-standing hurdle successful the stablecoin market: cross-chain security.
Historically, vulnerabilities successful cross-chain bridges person outgo users astir $3 billion, they added.
“Chainlink's battle-tested infrastructure delivers the institutional-grade information and extended scope needed to present USD1 into the hands of millions crossed a increasing fig of active, on-chain ecosystems,” said Zach Witkoff, co-founder of World Liberty Financial.
"Chainlink is perfectly captious to merging accepted concern and decentralized finance, which has been our ngo astatine World Liberty Financial ever since the start," said World Liberty co-founder Zak Folkman. "We don't spot a satellite wherever DeFi exists successful its ain ecosystem and accepted concern carries connected but we judge successful a precise abbreviated magnitude of clip that they will, successful fact, merge and conscionable beryllium the aboriginal of finance. So to that end, World Liberty Financial, our USD1 token is present bridgeable crossed concatenation acknowledgment to the unthinkable radical astatine CCIP which person enabled this transverse concatenation compatibility, currently."
The collaboration builds connected an earlier integration wherever Chainlink’s terms oracles were utilized to enactment World Liberty’s deployment of an Aave v3 instance.
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