United States presidential crypto-friendly candidate Donald Trump, alongside his sons, Donald Jr. and Eric Trump, have revealed plans to launch a new project, World Liberty Financial (WLFI), on September 16.
Among many features, the crypto project will boost stablecoin adoption and promote decentralized finance (DeFi) technology in the U.S. The project is a strategic move toward Trump’s efforts to make America the world’s capital of Bitcoin if he wins the forthcoming election.
Trump to Launch WLFI
Trump announced via a video shared on X that he’s going live on Monday, September 16, to promote the launch of his son’s new project, which will be an instrumental tool to aid crypto adoption in the country. He said, “We are embracing the future with crypto and leaving the slow and outdated big banks behind.”
Before now, Trump had revealed very little information about the WLFI project on his social media accounts. In a video from last month, he portrayed WLFI as a tool to safeguard people from being choked out of their businesses.
World Liberty Financial’s X account revealed plans to promote decentralization and adoption of U.S.-pegged stablecoins. It intends to spread stablecoins across the globe and ensure that the U.S. dollar remains the world’s dominant currency without any competition from other currencies to maintain America’s financial leadership.
“We want U.S.-pegged stablecoins to remain the world’s settlement layer for the next 100 years. The U.S. dollar has been the backbone of global finance for decades, but it’s now under attack by foreign nation-states,” the WLFI team stated.
CoinDesk noted in the project’s whitepaper that WLFI will offer a digital wallet and a credit account system. It will allow users to lend, borrow, and invest in cryptocurrencies.
Trump’s Crypto Community
As part of his presidential campaign, Trump has supported crypto adoption in many visible ways. He also welcomed donations from supporters worth over $5 million in BTC and other altcoins to support his campaign.
Additionally, Trump has won the hearts of many crypto enthusiasts by revealing his plans to sack, Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC). Famous investors and analysts have predicted a positive outcome for Bitcoin and the entire crypto industry if Trump becomes the next President of the United States.
