Trump-Tied Stablecoin Used for MGX’s $2 Billion Binance Deal (3)

World Liberty Financial, the Trump family’s decentralized finance project, said its new stablecoin is being used for a $2 billion investment in crypto exchange Binance Holdings Ltd. by Abu Dhabi’s MGX.

MGX made the minority investment in Binance in March, but the stablecoin that would be used to settle the deal wasn’t disclosed. The companies will use World Liberty’s USD1 stablecoin for the transaction, World Liberty co-founder Zach Witkoff said on Thursday on a panel alongside Eric Trump at the Token2049 conference in Dubai. “We thank MGX and Binance for their trust in us,” he said.

The transaction links ...