President Donald Trump’s crypto empire is expanding with the recent announcements of a new dollar-backed stablecoin and investment funds for digital assets.

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

World Liberty Financial, the crypto business created by President Trump and his sons, unveiled a cryptocurrency called a stablecoin, furthering his ties to an industry his administration regulates.