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Gate has become the second-largest holder of USD1 stablecoin after Binance, following a surge in demand driven by its IKA Launchpad campaign with World Liberty Financial.
Gate, a leading global cryptocurrency exchange, and World Liberty Financial (WLFI) jointly announced a major milestone in the growing adoption of USD1, a USD-backed stablecoin issued by WLFI. According to on-chain data as of today, Gate has officially become the second-largest holder of USD1 among all centralized exchanges, trailing only Binance.
The surge in USD1 holdings on Gate was driven by the launch of Ika (IKA) on Gate Launchpad on July 26. The Launchpad campaign supports subscriptions in USD1 and Gate Token (GT), attracting substantial user participation and stablecoin inflow.
According to on-chain data, most USD1 liquidity is currently concentrated on the BNB Smart Chain (BSC), with smaller but notable reserves on Ethereum (ETH). Gate currently holds approximately $170 million USD1 on BSC, ranking second among CEXs with an additional $20 million USD1 on Ethereum, ranking first among CEXs on that chain. This correlates closely with the total USD1 allocation of 196 million tokens contributed to the IKA Launchpad event to date.
In total, Gate Launchpad with $IKA has seen user contributions surpass 200 million USD1 and 5.33 million GT, worth approximately $97.5 million, marking one of the largest Launchpad commitments in Gate’s recent history.
USD1 is a USD-backed stablecoin issued by World Liberty Financial, designed to provide transparent, regulated, and scalable digital dollar access across multiple blockchains. It is backed 1:1 by short-term US government treasuries, US dollar deposits, and other cash equivalents, with real-time audits and multi-chain deployment on BSC, Ethereum, and beyond.
This collaboration signals both parties’ commitment to building an open and compliant PayFi ecosystem, bridging traditional financial assets with next-generation decentralized infrastructure.
Learn more on Gate Launchpad: https://gate.com/zh/launchpad
Gate, founded in 2013 by Dr. Han, is one of the world’s earliest cryptocurrency exchanges. The platform serves over 33 million users with 3,600+ digital assets and pioneered the industry’s first 100% proof-of-reserves. Beyond core trading services, Gate’s ecosystem includes Gate Wallet, Gate Ventures, and other innovative solutions.
Disclaimer:
This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate may restrict or prohibit certain services in specific jurisdictions.
World Liberty Financial (WLFI) is a pioneering decentralized finance (DeFi) protocol and governance platform inspired by the vision of President Donald J. Trump. WLFI develops transparent, secure, and accessible financial tools, including institutional-grade products designed to broaden participation in decentralized finance. WFLI’s USD1 is a stablecoin redeemable 1:1 for the U.S. dollar, 100% backed by short-term U.S. treasuries, cash, and cash equivalents. Learn more and follow updates at x.com/worldlibertyfi.
Media Contact
Frederica Ko
Senior PR Manager, Gate Exchange
[email protected]
