World Liberty Financial (WLFI), Donald Trump’s recent crypto venture, is reportedly developing its own U.S.-dollar-backed stablecoin to complement its newly launched governance token. Aiming to enter a competitive market with players like PayPal, Coinbase, and Robinhood, World Liberty’s stablecoin seeks to provide a stable, dollar-pegged digital currency.
The project, still in early stages, focuses on ensuring safety and compliance in a heavily regulated space. WLFI recently onboarded Rich Teo, cofounder of Paxos, to lead its stablecoin development. However, launching a stablecoin demands significant financial backing and careful navigation of complex regulatory requirements.
WLFI has already attracted over 100,000 accredited investors, but its token sale, initially targeting $300 million, has raised just $14 million. If successful, Trump’s team could see substantial profits similar to Tether, which reported $5.2 billion in earnings in the first half of 2024 alone.
