Washington, DC – World Liberty Financial (WLFI), the financial protocol supported by President Donald Trump and his family, presented his own stablecoin on Washington Crypto on Wednesday, where legislators also attended the industry update on their progress with American political efforts.
Behind the three co-founders of WLFI, Donald Trump Jr. connected by video, offering general cheerleading to the technology of digital assets underlying the company.
“I am simply very excited by what it can mean for the future of the bank, for the future of financial systems,” said Trump. “I was in a way the beneficiary of the old way of doing things, but that doesn’t mean it’s the best way to do things.”
The company had confirmed the launch of its stablecoin USD1 this week, saying that it would first be available on Ethereum and the BNB channel linked to Binance. The announcement was made while the congress is progressing on legislation to regulate stablecoins in the United States; Many legislators working on who were also at the same summit of the DC blockchain on Wednesday, organized by the digital chamber.
“We are delighted that the world discovers our stablecoin,” said Zach Witkoff, one of the co-founders of World Liberty Financial. “I think retail and institutions will really look at the product.”
The Washington event gave Trump connected affairs to Trump its main scene, where managers were followed by two republican legislators at the center of the potential adoption of stable legislation – Senator Tim Scott and representative French Hill. Their legislation could possibly request the final approval by President Trump, leaving little light between the main lobbying objectives of the industry and the family business of the president.
“You do not bring permanent change in the policy in relation to executive action,” said Hill. “This is why leadership in the Senate and the House [is crafting] A stablecoin diet that can make America the main home for stablescoins, stable -coated stables of a dollar. “”
The Chamber is also on the verge of reintroducing a bill on the structure of the market, after 71 democrats joined the majority of the Republicans to vote to advance legislation similar to the House last year, he said.
The use of Stablecoin is “just as safe as a bank account, but without all these additional nonsense,” said Trump Jr., adding that there are “probably thousands of tickets” in waste keeping traditional banking services alive. “Heaven is the limit for this.”
The World Liberty protocol aims to provide a blockchain-based platform where its users could borrow and lend cryptocurrencies, create liquidity pools and compromise with stablecoins. But he also has more hope of extreme retail.
“Our goal is that you can enter your local Bodega and buy a ham sandwich using Stablecoins,” said Witkoff.
