Donald Trump's World Liberty Financial crypto venture will launch a dollar-pegged stablecoin called USD1, backed by U.S. Treasuries, dollars and other cash equivalents, it said in a statement on Tuesday. The digital token, intended to keep a value of $1, will be "fully backed by a reserve portfolio audited regularly by a third-party accounting firm," World Liberty said, without giving details of the accounting firm, or the date of its launch. Zach Witkoff, World Liberty's co-founder, said "sovereign investors and major institutions" would be able to integrate USD1 "into their strategies for seamless, secure cross-border transactions."