Former U.S. President Donald Trump has officially unveiled plans to launch his family’s cryptocurrency platform, World Liberty Financial.
The announcement was made via a video posted on the social media platform X (Twitter) on Thursday.
Trump invited his followers to join a live event on September 16th at 8 p.m. on Twitter Spaces to witness the platform’s debut.
In the announcement, Trump emphasized the platform’s mission to disrupt traditional banking. He highlighted the slow pace of big banks and promised that World Liberty Financial would provide an alternative, powered by cryptocurrency.
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“We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” Trump said, positioning the platform as a forward-thinking solution in the financial sector.
The goal of World Liberty Financial is to develop a DeFi platform that offers lending, borrowing, and digital wallets, among other services.
According to a white paper, the network will let users save money, provide a credit system, and utilise tokens to invest in assets. As a result, the platform is positioned as a complete cryptocurrency substitute for established financial institutions.
The platform’s non-transferable governance token is among its most distinctive characteristics. The platform’s functionality will be influenced by this token, which may give users a voice in how it develops going forward.
Apart from these services, World Liberty Financial has indicated that it would like to increase the usage of US dollar-pegged stablecoins in the DeFi market.
The platform aims to promote U.S.-pegged stablecoins globally, helping to maintain the dominance of the U.S. dollar.
Trump’s Growing Interest in Crypto
Some are surprised by Trump’s entry into the cryptocurrency space because he has previously voiced doubts about virtual currencies. His work with World Liberty Financial, on the other hand, shows a change in perspective as he now looks to profit from the rising interest in cryptocurrencies.
It appears that he has been preparing for this launch for some time based on his numerous cryptic allusions to the project in recent months.
The platform may draw in a broad spectrum of users searching for a more contemporary approach to banking because it combines digital wallets, credit systems, and investment opportunities.