PALM BEACH, Fla. — Apex Group, a global financial services provider overseeing more than $3.5 trillion in assets, has partnered with cryptocurrency company affiliated with US President Donald Trump to test the use of a stablecoin in traditional fund operations, the companies announced at the World Freedom Forum in Mar-a-Lago on Wednesday.
The collaboration centers on the WLFI $1 stablecoin, which Apex will test as a payment gateway for subscriptions, redemptions and distributions across its tokenized fund ecosystem, it said in a press release. Apex, which provides administrative and operational services to a broad client base including hedge funds, pension funds, banks and family offices, said the goal is to improve settlement speed and reduce operating expenses for institutional clients.
Zach Witkoff, co-founder and CEO of World Liberty, called for USD1 infrastructure for a future financial services ecosystem during the forum’s opening remarks.
The company has been increasingly active in the digital asset space, using blockchain to tokenize parts of the funds it services. Tokenizing funds or issuing shares on the blockchain can help companies streamline reporting, reduce fees, and reach a broader investor base.
In May, Apex deepened its focus on blockchain by acquiring Tokeny, a Luxembourg-based company known for building infrastructure to issue and manage real-world assets (RWA) on-chain. It also acquired London-based Globacap, an investment platform with a US-registered broker-dealer, expanding Apex’s ability to tokenize regulated securities in the US, where interest in blockchain-based RWAs is growing among asset managers.
Apex CEO Peter Hughes said in a statement that customers “increasingly want blockchain-based solutions that deliver tangible benefits and cost savings.”
As part of the collaboration with WLFI, Apex will also explore making WLFI’s tokenized assets, such as real estate and infrastructure, available on the London Stock Exchange Group’s (LSEG) digital market infrastructure platform, subject to regulatory approval. WLFI said it plans to launch a mobile app that connects traditional bank accounts with digital asset wallets and allows users to access these tokenized holdings.
