Trump claimed that by embracing the future, the WLF project is eschewing “slow and outdated big banks.”
Donald Trump, the Republican nominee for president, announced on Thursday that World Liberty Financial (WLF), his family’s cryptocurrency business, will open for business on September 18.
In a video uploaded to X, he said, “Join me live on Twitter spaces at 8pm, Sept. 16, for the launch of World Liberty financial.” “We’re embracing the future with crypto, and leaving the slow and outdated big banks behind.”
Eric Trump and Donald Trump Jr., the president’s sons, have long been hinting at their impending cryptocurrency business. However, the rollout faced delays due to scams misleading supporters to fake websites and the hacking of other Trump family members’ social media accounts.
Join us live from Mar-A-Lago on September 16 at 8pm EST with Donald J. Trump! Tune in to hear our vision for making finance great again. 🇺🇸 https://t.co/2H0rJcawBJ
— WLFI (@worldlibertyfi) September 12, 2024
WLF to Reveal Project at Live Event from Trump’s Mar-A-Lago
Meanwhile, WLF announced via its official Telegram channel that the project’s announcement will occur live from Donald Trump’s Mar-A-Lago residence.
“Get ready as we unveil our plan to Make Finance Great Again,” the team said. “This is a landmark event you won’t want to miss!”
The project’s goal is for US-pegged stablecoins to act as the world’s settlement layer for the ensuing century, as the team previously disclosed. It has collaborated with security companies such as Tokyo, Fuzzland, Peckshield, and BlockSecTeam, whose code has been examined.
The project also uses Aave’s non-custodial lending platform to construct a decentralized financial system.
Trump’s Crypto Vision Faces Challenges As Experts Warn WLF Must Innovate
However, experts highlight challenges for WLF in gaining traction, as established stablecoins like USDC and USDT already have strong liquidity, community support and trust. WLF will need to offer superior features to stand out.
Trump has centered his 2024 presidential campaign around cryptocurrencies, particularly Bitcoin. With the goal of making the US the world’s “crypto capital” and Bitcoin superpower, he sees the country rising to the forefront of the cryptocurrency industry.
Trump intends to establish a national Bitcoin stockpile to support this, guaranteeing that the US government retains ownership of all Bitcoin assets, both present and future.