$0.9998

USD1 is a fiat-backed digital asset designed to maintain a one-to-one value with the U.S. dollar. It was introduced in April 2025 by World Liberty Financial, a financial technology firm based in Miami, Florida. The token is issued and legally managed by BitGo Trust Company, a regulated trust entity in South Dakota. Users can deposit U.S. dollars into BitGo-managed accounts to create USD1 tokens and can redeem them for fiat currency, typically within two business days. The asset aims to reduce friction in converting between fiat and digital currencies by offering fee-free minting and redemption.

The reserves backing USD1 are held in liquid assets, including short-term U.S. Treasury bills, government deposits, and money market funds managed by financial institutions. These reserves are audited regularly, with independent reports published quarterly to confirm the backing of each token. The asset also uses Chainlink’s Proof of Reserves mechanism for real-time, on-chain verification of reserve balances. Technical operations are overseen by BitGo, and the smart contract infrastructure was audited by Peckshield, with no critical vulnerabilities found. Transactions require multi-signature approvals from geographically dispersed signers.