Coinbase has added World Liberty Financial’s USD1 stablecoin to its platform, expanding access to the politically connected token while increasing its adoption potential and regulatory attention.
The dollar-pegged stablecoin, USD1, is now available on Coinbase, the exchange announced on August 21. Users can buy, sell, convert, send, and store USD1 via the Coinbase app and website.
Coinbase Broadens Support for USD1 Stablecoin
Coinbase announced that USD1 will initially be supported on the Ethereum network as an ERC-20 token, with transfers available on both Coinbase and Coinbase Exchange in regions where it is approved.
Availability may be limited by local regulations, reflecting Coinbase’s jurisdiction-based approach to regulated stablecoins. The Ethereum contract address has been made public to ensure transparency.
The listing attracted notable attention after Eric Trump, son of the U.S. President, shared Coinbase’s announcement on X, highlighting the token’s political connections. On the same day, World Liberty Financial disclosed a $205 million mint of USD1 for its treasury, calling it the fastest-growing stablecoin.
Swift Expansion and Increased Scrutiny
Since its launch in March 2025, USD1 has grown rapidly, reaching a market capitalization of $2.2 billion by August 21, according to DeFiLlama data. This makes it the fifth-largest stablecoin globally, surpassing competitors like FDUSD and PYUSD.
The token has also attracted institutional support, including a $2 billion investment from Binance and Abu Dhabi’s MGX fund. USD1 is held in custody by BitGo Trust Company and fully backed by dollar deposits, cash equivalents, and U.S. Treasuries. It operates on Ethereum, Binance Smart Chain, and TRON, undergoes monthly third-party audits, and offers zero-fee minting and redemption.
Despite its rapid rise, USD1 has faced criticism over liquidity concentration, with more than half of the supply held in just three wallets. Lawmakers have also raised concerns about its political connections and potential conflicts of interest due to the Trump family’s involvement.
Nevertheless, Coinbase’s listing is expected to boost trading activity and increase the stablecoin’s visibility.
