The world of digital currencies is once again buzzing as a significant player prepares for a pivotal moment. US Liberty Financial (WLF), the cryptocurrency firm associated with former President Donald Trump, is set to unveil its inaugural audit of the USD1 stablecoin shortly.
Since its launch in March, USD1 has soared past a market capitalization of $2 billion. But there’s more on the horizon; WLF is gearing up to introduce a mobile application designed specifically for everyday investors.
Insightful Audit to Disclose Backing Assets
Recent information indicates that the forthcoming audit will clarify the assets that underpin each USD1 token. WLF asserts that the stablecoin is backed by US dollar deposits, cash equivalents, and US Treasuries, all safeguarded by BitGo.
Following the audit, WLF plans to ensure ongoing transparency by publishing monthly updates on reserves. This proactive approach may help attract institutional investors and regular users alike.
According to Zak Folkman, co-founder of U.S. President Donald Trump’s cryptocurrency platform, an audit of the stablecoin will be released shortly, accompanied by a new app.
— Reuters Legal (@ReutersLegal) June 26, 2025
Mobile Application for the Everyday Investor
Reports suggest that the upcoming app will simplify the process of buying, holding, and transferring USD1. The app aims to streamline onboarding experience so that newcomers to cryptocurrency feel confident and informed.
During the Permissionless conference held in Brooklyn, co-founder Zak Folkman elaborated on the app’s features, emphasizing its user-friendly interface and the provision of transparent financial data, enabling users to see what backs their tokens.
Potential Governance Token Trading on the Horizon
WLF has hinted that its governance token, WLFI, may soon be available on exchanges. So far, WLFI has remained non-tradable and grants holders a say in the governance of the USD1 protocol.
Folkman teased that there may be exciting developments for WLFI holders in the upcoming weeks. Should WLFI commence trading, it could inject fresh capital into the platform, but it may also induce volatility in the token’s value.
Trump Family’s Stake Change Under the Spotlight
Recent reports reveal that the Trump family has reduced its stake in WLF from 60% to 40%, generating approximately $130 million in cash. This move has drawn attention from both lawmakers and ethics advocates, given the potential conflicts of interest as WLF progresses in a condensing regulatory environment.
Institutional Partnerships and Airdrop Initiatives
USD1 is already gaining traction among significant institutional users. In March, MGX, based in the UAE, made a groundbreaking $2 billion investment in Binance using USD1 tokens. Moreover, WLF executed a successful airdrop in June, distributing $4 million worth of USD1 to over 85,000 wallets.
What Lies Ahead
The upcoming audit will be pivotal in determining the future of USD1. Will the audit findings substantiate WLF’s claims? How will the app be received by users? And will the WLFI launch rouse trading activity?
If all indications are positive, USD1 could position itself among the top contenders in the stablecoin market by year-end. Conversely, any discrepancies in the audit or challenges during the app launch could hinder this momentum.
Featured image from Pexels, chart from TradingView
