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.

World Liberty Financial, a cryptocurrency project backed by President Donald Trump’s family, announced plans for a stablecoin pinned to the U.S. dollar, just days after the president called on Congress to pass “commonsense” legislation to regulate that type of digital asset.