World Liberty Financial (WLFI), backed by the Trump family, announced a partnership with Mesh to integrate USD1 stablecoin payments across major online commerce platforms during this quarter. USD1, issued by BitGo with a market capitalization of $4.45 billion, maintains a one-dollar value backed by cash reserves and US government money market funds. WLFI received conditional approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank to issue dollar-backed stablecoins, which would allow it to take over USD1 issuance. The project drew criticism from Senator Elizabeth Warren, who alleged conflicts of interest involving the Trump family’s ties to WLFI.
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