Trump's crypto venture introduces fourth digital currency

World Liberty Financial, the cryptocurrency company started by President Donald Trump and his sons, announced Tuesday that it was planning to sell a digital currency called Stablecoin, deepening the president's ties to the crypto industry as his administration relaxes regulation of the industry.

- DAVID YAFFE-BELLANY

The stablecoin would be known as USDD, the company wrote in a social media post, without revealing where it would go on sale. Stablecoins, a popular form of cryptocurrency, are designed to maintain a constant value of $1, making them useful for many types of crypto transactions.

“No gimmicks. Just real stability,” World Liberty posted on its X social media account.

The stablecoin is the fourth digital currency that Trump or his business partners have started to publicly offer over the past year. World Liberty already offers a cryptocurrency called WLFI. This month, the company announced it had sold $350 million of those digital coins. A business entity linked to Trump receives a 75% cut of the sales.

Days before his inauguration, Trump also started selling a so-called meme coin, a type of digital currency based on an internet joke or celebrity. Barron, Melania Trump put her own memecoin on the market that same weekend.