Eric Trump, the second son of Trump: WLFI stablecoin USD1 will be used for MGX to complete the investment in Binance

ChainCatcher news, according to CoinDesk, Eric Trump, the son of U.S. President Trump, stated that the USD-pegged stablecoin USD1 issued by World Liberty Financial (WLFI) has been officially selected as the stablecoin for Abu Dhabi investment firm MGX to complete its $2 billion investment in Binance.

Eric Trump said at the Token2049 event held in Dubai: "We thank MGX and Binance for their trust in us, and I believe this is just the beginning."

Earlier this year, Abu Dhabi-based investment firm MGX invested $2 billion to acquire a stake in Binance. World Liberty Financial announced its plans to issue a dollar-backed stablecoin in partnership with BitGo in March of this year.