Aptos Launches USD1 in Partnership with Trump Family. Entering the Market for DeFi and Leading...

Aptos Launches USD1 in Partnership with Trump Family. Entering the Market for DeFi and Leading Stablecoins

Aptos has announced a strategic partnership with World Liberty Financial (WLFI), a firm affiliated with the Trump family, to deploy the USD1 stablecoin on the Aptos network. The goal is to gain market share in stablecoins and strengthen its position as a layer-1 to compete with Ethereum and Tron.

According to Aptos CEO Avery Ching, these have been ongoing discussions for some time. WLFI is working on products for retail, banking and other segments, and the first step will be a stablecoin that returns its revenue to its holders.

USD1 will launch on the Aptos network on October 6th and will receive broad support across the ecosystem. Liquidity and incentives will be available across Aptos’ leading DeFi protocols, including Echelon, Hyperion, Thala and Tapp. Wallets and exchanges such as Petra, Backpack, OKX, OneKey, Bitget Wallet, Nightly and Gate Wallet will also support the launch.

Ching highlighted that WLFI chose Aptos for its low transaction costs (less than one hundredth of a cent) and speed – transactions take less than half a second. Thanks to this, USD1 has a chance to become a widely accepted stablecoin across the market.

Aptos is aiming for a larger share of the stablecoin market, which is currently dominated by Ethereum with over 60% and EVM-compatible and layer 2 networks continue to grow. According to DefiLlama, USD1 has a market capitalization of around $2.68 billion, about half of which is held on BNB Chain.

Aptos is also planning new projects in the future. The CEO announced the de facto “Decibel”, a high-performance decentralized exchange for stablecoins, perpetual contracts and spot trading. The testnet is due to appear in October and the mainnet should be launched by the end of the year. Also in the pipeline is “Shelby,” a hot decentralized storage for social media and training data, being developed in partnership with Jump Crypto, with an expected launch in 2026.

Aptos is also building its reputation thanks to former Meta Diem project lead Avery Ching and backing from major investment players including FTX Ventures, Andreessen Horowitz, Apollo, Franklin Templeton, and Circle Ventures.

*This is not an investment recommendation.

The Coingarage Team