Eric Trump: WLFI's stablecoin USD1 will be used to complete MGX's $2 billion investment in Binance

According to CoinDesk, Eric Trump, son of US President Trump, stated that the USD denominated stablecoin USD1 issued by World Liberty Financial (WLFI) has been officially selected as the official stablecoin for Abu Dhabi investment firm MGX to complete a $2 billion investment in Binance. Eric Trump stated at the Token2049 event held in Dubai, 'We appreciate the trust that MGX and Binance have placed in us, and I believe this is just the beginning.'. ” Earlier this year, Abu Dhabi based investment firm MGX spent $2 billion to acquire a stake in Binance. World Liberty Financial announced plans in March this year to collaborate with BitGo to issue stablecoins supported by US dollars.