the Trump family-linked crypto project, will soon launch a currency platform called World Swap, its co-founder Zak Folkman said on stage at Consensus Hong Kong.
The forex teaser adds to a growing list of products revolving around the project’s USD1 stablecoin as the project positions itself as a full-stack financial ecosystem, with further announcements expected at a Mar-a-Lago event later this month.
Folkman said on stage that the company’s goal is to abstract away much of the complexity associated with crypto wallets and cross-border transfers, allowing users to send and receive digital dollars in a way similar to popular payment apps.
He framed the planned foreign exchange service as a direct challenge to traditional money transfers, which often charge fees ranging from 2% to 10% per transaction. transaction.
The company’s broader strategy centers on USD1, a dollar-pegged stablecoin that Folkman said is backed by cash and liquid assets.
Folkman also highlighted the launch of World Liberty Markets, a lending platform that has attracted hundreds of millions of dollars in deposits within weeks of going live, and partnerships with decentralized finance protocols to increase the utility of tokens.
In late January, Crypto Twitter users had seen AMG Software Solutions LLC, a Puerto Rico-based company that owns WLFI’s intellectual property, had registered trademarks related to World Swap.
