World Liberty Financial (WLFI), a decentralized finance project with reported ties to the Trump family, has unveiled plans for a proprietary foreign exchange trading platform named World Swap. The announcement was made by WLFI co-founder Zak Folkman during his remarks at the Consensus Hong Kong blockchain conference.
The World Swap platform is designed to facilitate the trading of fiat-pegged and digital assets, marking a strategic expansion for WLFI from a DeFi project into a comprehensive financial services provider. A core feature of the platform will be its deep integration with WLFI's native stablecoin, USD1, which is intended to serve as the primary medium for trading fees, settlements, and liquidity.
Folkman positioned the platform as a competitor to traditional remittance services, citing the 2% to 10% fees often charged for cross-border transfers as a key target. He stated the goal is to "abstract away" wallet and transfer complexity for users, offering an experience akin to common payment apps. While specific operational details, fee structures, and supported currency pairs were not disclosed, Folkman indicated a formal release with this information is scheduled for the end of May 2025, with further details to be shared at a subsequent event at Mar-a-Lago.
The move represents a significant foray into the world's largest financial market, the global foreign exchange market, which sees daily volumes exceeding $7.5 trillion. The success of World Swap is seen as intrinsically linked to the adoption and stability of the USD1 stablecoin, which Folkman described as being backed by cash and cash equivalents.
Analysts note that WLFI's announcement at Consensus Hong Kong is strategically significant, aligning the project with the city's push to become a global virtual asset hub. The project's reported political connections add a layer of public interest but may also invite heightened regulatory scrutiny as it navigates the complex and competitive landscape of digital asset FX trading.
