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Coinbase adds USD1 to its platform
World Liberty Financial’s dollar-pegged stablecoin, USD1, is now listed on Coinbase, the exchange announced on Aug. 21. Coinbase users can buy, sell, convert, send, and store USD1 through the Coinbase website and mobile app in regions where the token is approved.
Networks, compliance and transparency
Coinbase said USD1 will initially be supported as an ERC-20 token on the Ethereum network, with transfers available on Coinbase and Coinbase Exchange in jurisdictions that meet local regulatory requirements. The exchange’s jurisdiction-based approach to regulated stablecoins means access may vary by country or region. For transparency, World Liberty Financial has published the Ethereum contract address so market participants can verify supply and transactions on-chain.
Multi-chain rollout and custody
USD1 operates on Ethereum, Binance Smart Chain and TRON, and is held in custody by BitGo Trust Company. The issuer reports that the stablecoin is fully backed by U.S. dollar deposits, cash equivalents and U.S. Treasuries, and undergoes monthly third-party audits. World Liberty Financial also offers zero-fee minting and redemption.
Rapid growth, institutional interest and scrutiny
Since launching in March 2025, USD1 has seen exceptionally fast growth. DeFiLlama data showed a market capitalization of about $2.2 billion by Aug. 21, making USD1 the fifth-largest stablecoin and putting it ahead of rivals such as FDUSD and PYUSD. On the day of the listing, World Liberty Financial disclosed a $205 million mint of USD1 for its treasury and claimed the token is the fastest-growing stablecoin.
Institutional support has been reported as well, including a $2 billion investment involving Binance and Abu Dhabi’s MGX fund.
Concerns and potential impact of Coinbase listing
Despite momentum, USD1 faces criticism for liquidity concentration—more than half its supply is reportedly held by three wallets—and questions about political connections after Eric Trump reposted Coinbase’s announcement. Lawmakers have raised possible conflict-of-interest concerns tied to the token's affiliations. Even so, listing on Coinbase is expected to raise trading volumes and visibility for USD1, increasing its presence in crypto markets while subjecting it to greater regulatory and market scrutiny.
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