19 May 2025 | Monday | News
Picture Courtesy | Public Domain
- World Liberty Financial, the DeFi protocol and governance platform inspired by President Donald J. Trump, and Chainlink, the standard for onchain finance, announced a landmark collaboration to accelerate the adoption of the world's fastest-growing stablecoin, USD1. As part of this collaboration, World Liberty Financial has integrated Chainlink Cross-Chain Interoperability Protocol (CCIP) to expand access to the institutional-grade stablecoin by enabling secure transfers of USD1 across leading blockchain networks that would otherwise act as silos of value.
Backed by short-term U.S. government treasuries, U.S. dollar deposits, and other cash equivalents, the USD1 stablecoin has skyrocketed in record time to eclipse $2 billion in market capitalization. Chainlink supercharges USD1 with the ability to move seamlessly between Ethereum and BNB Chain networks, with an ambitious roadmap for additional blockchain integrations down the road.
"From the largest enterprises to consumer applications, we have seen extraordinary, worldwide demand for a trustworthy and purely digital US dollar stablecoin. USD1 is setting records because it was designed expressly for this purpose," said Zach Witkoff, co-founder of World Liberty Financial. "Chainlink's battle-tested infrastructure delivers the institutional-grade security and extensive reach needed to deliver USD1 into the hands of millions across a growing number of active, onchain ecosystems. WLFI's partnership with Chainlink will accelerate and improve USD1's utility for cross-border payments and will result in truly useful applications across DeFi and traditional finance. We're creating a comprehensive platform for a dramatically improved financial future by building atop a rock-solid foundation."
The WLFI/Chainlink integration for USD1 tackles critical security challenges that have plagued cross-chain solutions in years past, with approximately $2.8 billion lost in previous exploits at the intersections between blockchains. Having successfully safeguarded $75 billion in DeFi total value locked at its peak and having powered $20 trillion in transaction value, Chainlink's solution meets the rigorous security requirements for an institutional-grade stablecoin like USD1.
"I'm very excited about the great work that WLFI has done on USD1, and we are thrilled about them selecting Chainlink CCIP as their chosen cross-chain solution for USD1," said Sergey Nazarov, Co-Founder of Chainlink. "World Liberty Financial is doing important work to bring DeFi to both everyday users and major institutions. We've worked with WLFI from the very beginning, and it's exciting to see that collaboration now live, bringing real utility to users around the world. The Chainlink standard — trusted by leading banks, governments, and financial market infrastructures — is a foundational part of this shift towards Web3, powering a more open, secure, and interconnected global economy."
Fintech Business Asia, a business of FinTech Business Review
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