The crypto project linked to the Trump family will soon launch a currency platform called World Swap, its co-founder Zak Folkman said on stage at Consensus Hong Kong.
The Forex advancement joins a growing list of products orbiting the project’s $1 stablecoin as the project positions itself as a full-fledged financial ecosystem, with further announcements expected at a Mar-a-Lago event later this month.
Speaking on stage, Folkman said the company’s goal is to abstract away much of the complexity associated with crypto wallets and cross-border transfers, allowing users to send and receive digital dollars in a way similar to popular payment apps.
He framed the planned currency exchange service as a direct challenge to traditional remittance providers who often charge fees ranging from 2% to 10% per transaction.
The company’s broader strategy centers around $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 has attracted hundreds of millions of dollars in deposits within weeks of its launch, and partnerships with decentralized finance protocols to increase the utility of the token.
In late January, Crypto Twitter users discovered that AMG Software Solutions LLC, a Puerto Rico-based company that owns the WLFI intellectual property, had registered trademarks related to World Swap.
