Trump-aligned USD1 eyeing Tether and USDC as top stablecoin by 2028: Blockstreet report suggests

World Liberty Financial's USD1 stablecoin, backed by President Trump, has been making waves in the crypto market. Since its launch in April, the stablecoin has grown to a staggering $2.5 billion, according to CoinGecko.

The stablecoin has found adoption on several exchanges, including Coinbase and Binance, despite facing regulatory scrutiny under the previous White House administration. Binance, a key player in the USD1 ecosystem, is being integrated into both crypto and traditional markets by Blockstreet, a company with a mission to amplify World Liberty Financial's vision.

Kyle Klemmer, co-founder of Blockstreet, is bullish about USD1's future. He believes that the stablecoin will become the world's most dominant by 2028, surpassing Tether's USDT and Circle's USDC, which are currently worth $71 billion and $167 billion respectively. Klemmer also stated that there's a large appetite from countries, sovereign wealth funds, and other larger bodies for USD1, with JPMorgan analysts predicting the stablecoin sector to grow to $500 billion by 2028.

However, not everyone is optimistic about USD1. U.S. Senator Elizabeth Warren has criticized the setup as "shady." Some analysts have also warned of potential losses for retail investors due to the high fully-diluted value of World Liberty Financial's WLFI governance token, which becomes tradable on Monday.

In a recent development, ALT5 Sigma Corporation unveiled a crypto treasury strategy centred around World Liberty's WLFI token. Matthew Morgan, co-founder of Blockstreet and CIO at ALT5 Sigma Corporation, serves as an advisor to World Liberty.

Despite the lack of specific information about the target group responsible for the distribution and adoption of the World Liberty Financial governance token WLFI, the stablecoin has been issued on Ethereum, BNB Chain, Tron, and Solana.

USD1 was also tapped by Emirati state-owned investment firm MGX for a $2 billion investment in Binance. As the stablecoin continues to grow, it will be interesting to see how it navigates the regulatory landscape and whether it can indeed become the world's most dominant stablecoin by 2028.