Crypto-Observators Monday speculated that World Liberty Financial (WLFI), the decentralized funding (Defi) platform supported by US President Donald Trump and his family may have tested his long-awaited dollar stablecoin before rolling out for the wider public.

Blockchain Sleuths earlier today noted a flurry of activity with a token labeled as the World Liberty Financial USD (USD1) on Blockchain monitoring of sites Etherscan and BSCSCAN. Blockchain data shows that USD 1 was implemented earlier this month at Ethereum and BNB chains and a number of transactions with the token that occurred in the last few weeks.

Some transfers included addresses associated with Wintermute, a large trading company for digital asset and market manufacturer and Crypto Custodian Bitgo, according to Arkham Intelligence Data. Token’s supply currently stood at about 3.5 million-3.5 million at Ethereum and the BNB chain per year. Etherscan and BSCSCAN.

Changpen Cz Zhao, founder of Crypto Exchange Giant Binance, brought widespread attention to the token by “welcoming” the project on the BNB chain in a post with a screenshot of USD 1 BSCSCAN profile shared with its 10 million followers. The post, he said later, triggered a wave of copy-cats for the purpose of exploiting the newfound attention.

WLFI, responding in an X -post, said USD 1 is not currently available for trading and crypto truckers need to look after fraud.

StableCOin buzz

WLFI, a project speared by Zachary Folkman and Chase Herro, made a splash last year as one of the first crypto projects to enjoy the support of Trump. The protocol aims to provide a blockchain-based marketplace where users can borrow and borrow cryptocurrencies, create liquidity pools and trade with stablecoins.

It has been widely known that the project is working on designing its own stableecoin, but there has been no official communication about accurate plans and time for the launch of the token in public. Coindesk has reached the team but has not received any answers.

Stableecoins are one of the fastest growing corners of the crypto industry and is considered widely as the killer uses case for blockchains. With their prices bound to an external asset, predominantly to the US dollar, they are widely used as a crypto trading and transactions on blockchain rails. They are also increasingly used for daily payments, transfers and savings that attract the attention of many venture capital investors.

Buzz around the asset class rejuvenated the last months as the Trump administration raised stableecoin regulation to the top of its crypto agenda. Treasury secretary Scott Bessent said stableecoins have a key role in preserving the US dollar global role as a reserve currency.