tl;dr
Gate, a major cryptocurrency exchange, has become the second-largest holder of USD1, a USD-backed stablecoin issued by World Liberty Financial (WLFI), following Binance. This increase in USD1 holdings on Gate was driven by the launch of the Ika (IKA) token on Gate Launchpad, which supports subscript...
Gate, a leading global cryptocurrency exchange, and World Liberty Financial (WLFI), the developer of a pioneering DeFi protocol and governance platform inspired by President Donald J. Trump, jointly announced a major milestone in the growing adoption of USD1, a USD-backed stablecoin issued by WLFI.
According to on-chain data as of today, Gate has officially become the second-largest holder of USD1 among all centralized exchanges, trailing only Binance. The surge in USD1 holdings on Gate was driven by the launch of Ika (IKA) on Gate Launchpad on July 26. The Launchpad campaign supports subscriptions in USD1 and Gate Token (GT), attracting substantial user participation and stablecoin inflow.
On-chain data shows that most USD1 liquidity is currently concentrated on the BNB Smart Chain (BSC), with smaller but notable reserves on Ethereum (ETH). Gate currently holds approximately $170 million USD1 on BSC, ranking second among centralized exchanges, with an additional $20 million USD1 on Ethereum, ranking first among centralized exchanges on that chain. This correlates closely with the total USD1 allocation of 196 million tokens contributed to the IKA Launchpad event to date.
In total, Gate Launchpad with $IKA has seen user contributions surpass 200 million USD1 and 5.33 million GT, worth approximately $97.5 million, marking one of the largest Launchpad commitments in Gate’s recent history.
USD1 is a USD-backed stablecoin issued by World Liberty Financial, designed to provide transparent, regulated, and scalable digital dollar access across multiple blockchains. It is backed 1:1 by short-term US government treasuries, US dollar deposits, and other cash equivalents, with real-time audits and multi-chain deployment on BSC, Ethereum, and beyond.
This collaboration signals both parties’ commitment to building an open and compliant PayFi ecosystem—bridging traditional financial assets with next-generation decentralized infrastructure.