the crypto project linked to the Trump family, will soon launch an exchange 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 orbiting the project’s USD1 stablecoin, as the project positions itself as a complete financial ecosystem, with further announcements expected at an event at Mar-a-Lago later this month.
Speaking on stage, Folkman said the company’s goal was to eliminate much of the complexity associated with crypto wallets and cross-border transfers, allowing users to send and receive digital dollars in a manner similar to popular payment apps.
He presented the planned foreign exchange service as a direct challenge to traditional money transfer providers who often charge fees ranging from 2% to 10% per transaction.
The company’s broader strategy focuses on $1, a dollar-pegged stablecoin that Folkman says is backed by cash and cash equivalents.
Folkman also highlighted the launch of World Liberty Markets, a lending platform that attracted hundreds of millions of dollars in deposits within weeks of going live, as well as partnerships with decentralized financial protocols to increase the utility of the token.
In late January, Crypto Twitter users spotted AMG Software Solutions LLC, a Puerto Rico-based company that owns WLFI’s intellectual property, had trademarks related to World Swap.
