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

Changpeng Zhao (CZ) led crypto exchange Binance, is strengthening its ties with Trump-linked World Liberty Financial through its latest stablecoin integration for margin trading, BUSD reserves migration, and internal liquidy functions. Binance announced that the exchange will support World Liberty Financial USD (USD1) as a margin asset in Multi-Assets Mode starting from December 11. Binance users will be able to use USD 1 as collateral when opening and holding futures trades on Binance Futures, along with other stablecoins and crypto. 

Zach Witkoff, co-founder and CEO of World Liberty Financial, Zach Witkoff, co-founder and CEO of World Liberty Financial, described the move as a huge moment for the global adoption of USD1. He added that by integrating USD1 into liquidity, trading, and collateral systems on the world’s largest exchange, Binance was giving hundreds of millions of users improved access to USD1. The users can now use USD1 to buy or sell Binance coin (BNB), Ethereum (ETH), and Solana (SOL), along with Bitcoin (BTC). According to the announcement, the Binance VIP2 users can trade in the above pairs without any maker and taker fees. Furthermore, the trading in USD1/USDT and USD1/USDC pairs is free for all users. 

Binance will reportedly convert all leftover BUSD collateral into USD1 at a 1:1 ratio within the next week. Exchange is solidifying its ties with the Trump-backed stablecoin through one of the largest integrations within the Binance ecosystem. Following the integration, the USD1 is likely to become the default unit of settlement across the platform. 

The World Liberty Financial, co-founded by U.S. President Donald Trump and his family, launched USD1 in March this year. The stablecoin USD1 is pegged to the U.S dollar and is backed by a reserve containing short-term U.S. government treasuries, U.S. dollar deposits, and other cash equivalents. The USD1 currently has a market cap touching $2.71 billion. It’s also worth noting that the Binance founder, Changpeng Zhao, was pardoned by US President Donald Trump back in October this year. He was sentenced to prison following his guilty plea in a money laundering case under U.S laws. 

How is USD1 Faring Amid the Binance Integration Announcement?

The USD1 is currently trading at around $0.9992. The price trajectory saw a brief uptrend following the USD1 integration announcement from Binance. But it was unable to sustain a rally, and the price edged lower. The stablecoin is trading below the 10-day Simple Moving Average (SMA) but above the Exponential Moving Average (EMA). The 14-day Relative Strength Index (RSI) stands at 49, without any directional bias. However, the overall sentiment remains bullish with low volatility. The Binance integration is expected to strengthen the long-term prospects of USD1.