Trump-aligned USD1 aspiring to outrank Tether and USDC as leading Stablecoin by 2028: Blockstreet report

In the dynamic world of cryptocurrencies, a new player is making waves - the USD1 stablecoin, backed by World Liberty Financial. This digital currency, which has been issued on Ethereum, BNB Chain, Tron, and Solana, is forecasted to become the most dominant stablecoin in the world by 2028, according to Kyle Klemmer, co-founder of Blockstreet.

The stablecoin market is expected to reach an impressive $2.8 trillion in the next five years, as predicted by Bernstein analysts. JPMorgan analysts also anticipate the sector to grow to $500 billion by 2028.

Klemmer sees everyday payments as a "more clear and pressing" use case for USD1, aiming to solve this issue in the near future. However, the path for USD1 has not been without challenges. The stablecoin faced intense regulatory scrutiny under the previous White House administration, with no specific institutions mentioned in the search results that have participated in supporting USD1.

The regulatory landscape has not deterred the growth of USD1. World Liberty Financial, the company behind the stablecoin, debuted a year ago and has grown its USD1 stablecoin to $2.5 billion. The stablecoin has been adopted by some exchanges, including Coinbase and Binance.

Blockstreet, another player in the crypto space, is creating a complimentary ecosystem for USD1. Their mission is to amplify World Liberty Financial's vision and integrate USD1 into both crypto and traditional markets. Matthew Morgan, another co-founder of Blockstreet, serves as an advisor to World Liberty and is also the CIO at ALT5 Sigma Corporation.

The growth of USD1 has not gone unnoticed. The Emirati state-owned investment firm MGX tapped USD1 for a $2 billion investment in Binance. Despite the positive momentum, some analysts have warned of potential losses for retail investors due to the high fully-diluted value of World Liberty's WLFI governance token, limited to accredited investors and scheduled to begin trading on Monday.

The WLFI governance token is not the only token making headlines. CoinGecko, a crypto data provider, reports the current value of World Liberty's USD1 stablecoin. Meanwhile, Tether's USDT and Circle's USDC, worth $71 billion and $167 billion respectively, continue to dominate the market.

The future of USD1 is uncertain, but Klemmer remains optimistic. He predicts that USD1 will continue to be the fastest-climbing stablecoin, aiming to surpass Tether. Klemmer also mentions a large appetite for USD1 among countries, sovereign wealth funds, and other larger bodies.

In the midst of regulatory challenges and market competition, the USD1 stablecoin is carving out its place in the world of cryptocurrencies. As it continues to grow, it will be interesting to see how it navigates the complex landscape and realizes Klemmer's prediction of becoming the most dominant stablecoin by 2028.

Trump-aligned USD1 aspiring to outrank Tether and USDC as leading Stablecoin by 2028: Blockstreet report