USD1

Overview

USD1 is a dollar stablecoin branded by World Liberty Financial, which does not issue it. The project's own documentation states that BitGo, described there as a regulated digital asset custodian and stablecoin issuer, handles issuance, minting and redemption, and holds the reserve assets.

Redemption

The marketing site describes USD1 as redeemable 1:1 for U.S. dollars and backed by dollars and U.S. government money market funds. Redemption is not open to everyone. The docs say BitGo customers can redeem USD1 directly for USD, while other holders exchange through supported venues on those venues' terms.

Where it is deployed

The official contract address page lists 11 networks, including Ethereum and BNB Chain sharing the address 0x8d0d000ee44948fc98c9b98a4fa4921476f08b0d, plus Plume, Monad, Mantle, Morph, XLayer, AB Core, Solana, TRON and Aptos.

Sources: World Liberty Financial, Meet USD1, WLFI Docs, What is USD1, WLFI Docs, USD1 contract addresses

Backing and reserves

The monthly attestations

USD1 publishes monthly reserve attestations. The docs list reports for April through December 2025 and January through June 2026, all marked published. The engagement is described as an independent accounting firm examining management's assertion about USD1 tokens outstanding, the redemption assets, and the comparison between them, prepared under AICPA attestation standards and the 2025 AICPA Criteria for Asset-Backed Fiat-Pegged Tokens.

That is an attestation on a management assertion, not an audit opinion on the issuer.

What the reserve pages do not show

The reserve pages fetched here name no accounting firm and publish no composition figures. Backing is described in category terms only: cash, U.S. government money market funds, and other cash equivalents. No split between cash and money market funds is given on those pages, and no maturity profile or fund name appears.

BitGo hosts its own USD1 attestation index. It repeats the AICPA framing and states that holdings are disclosed by management monthly. It also did not show the reserve breakdown or the signing firm on the page fetched.

Sources: WLFI Docs, USD1 attestation reports, BitGo, USD1 attestations, World Liberty Financial, Meet USD1

Peg behaviour

World Liberty Financial runs a proof of reserves dashboard alongside the monthly reports. Its documentation says the dashboard reads reserve data from a Chainlink oracle on Ethereum, aggregates USD1 supply across networks from on-chain contract reads, and divides one by the other to show a collateralization ratio.

The limits the docs put on it

The dashboard is positioned as supplementary to the monthly attestations, not a substitute, and carries a disclaimer that accuracy is not guaranteed and the data is informational only. The reserve side of the ratio still originates off chain and reaches the dashboard through an oracle.

On Ethereum, Ethplorer quoted USD1 at $0.9992 at the time of access.

Sources: WLFI Docs, USD1 proof of reserves, Ethplorer, USD1 Ethereum token page

Regulation

The documentation says USD1 aligns with GENIUS Act stablecoin standards and that BitGo is a regulated digital asset custodian. No licence number, regulator or register entry is named on the pages fetched, so the specific authorisation behind that description is not verifiable from the issuer's own site. Minting access requires onboarding, verification and approval by the issuer.

Sources: WLFI Docs, What is USD1

Risks

• Brand and issuer are separate. World Liberty Financial brands the token, and BitGo mints, redeems and holds reserves. A holder's counterparty is the issuer.
• Redemption is gated. Direct 1:1 redemption runs through BitGo customer onboarding. Everyone else depends on secondary venues to exit, where a stressed peg would show first.
• Disclosure stops at categories. The pages checked state cash, U.S. government money market funds and cash equivalents, with no percentages, no fund names and no maturities. A reader cannot size the liquidity of the reserve from what is published.
• The attestation covers a management assertion. It compares tokens outstanding to redemption assets at a point in time. It is not an opinion on the issuer's controls or financial statements.
• Supply is spread over 11 networks. Six of them share one address, and several are young chains. Cross-chain supply accounting and bridge integrity become part of the collateralization question.

Sources: WLFI Docs, What is USD1, WLFI Docs, USD1 attestation reports, WLFI Docs, USD1 contract addresses

What this map tracks

The Global Stablecoin Map tracks USD1 on Ethereum and BNB Chain, the two networks that share contract 0x8d0d000ee44948fc98c9b98a4fa4921476f08b0d. Supply on those two contracts is read on chain, so circulating figures on this page do not depend on issuer reporting. The stablecoin explorer sets that figure against the rest of the dollar cohort.

What sits outside the tracked total

The nine other networks in the official address list, including Solana, TRON, Aptos and the Plume-family address 0x111111d2bf19e43c34263401e0cad979ed1cdb61.

What no on-chain read can settle

Reserves are off chain. On-chain reads confirm how many tokens exist. The explainer sets out what backing actually means. They say nothing about what sits behind them, and the collateral side reaches any dashboard, including World Liberty Financial's own, through an oracle or an attestation.

Sources: WLFI Docs, USD1 contract addresses, WLFI Docs, USD1 proof of reserves

Common questions