Donald Trump's World Liberty Financial crypto venture will launch a dollar-pegged stablecoin, it said in a statement on Tuesday, after raising more than half a billion dollars from selling a separate digital token.

The token will backed by short-term U.S. government Treasurys, U.S. dollar deposits and other cash equivalents, and be

The USD1 stablecoin is the latest of Trump’s crypto ventures an addition to the fastest growing sector of the crypto economy.