Former President Donald Trump’s upcoming cryptocurrency project, World Liberty Financial, has outlined its bold mission to promote the widespread adoption of dollar-pegged stablecoins in order to reinforce the US dollar’s dominance on the global stage.
The team behind this highly-anticipated decentralized finance (DeFi) initiative, known as World Liberty Financial, has stated that their goal is to make US dollar-based cryptocurrency derivatives the world’s primary settlement layer for the next 100 years.
“By spreading U.S.-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage,” World Liberty Financial stated in an X post. “Our mission is crystal clear: Make crypto and America great by driving the mass adoption of stablecoins and decentralized finance.”
The project, which has been the subject of numerous rumors and speculation, has addressed concerns regarding security by highlighting their collaboration with top cybersecurity firms to ensure robust code review and user safety.
WLFI has also announced a partnership with leading borrowing and lending platform Aave, effectively debunking rumors of a hostile fork of the DeFi platform.
The comments from World Liberty Financial come in the wake of reports suggesting that the project’s structure was inspired by Dough Finance, a DeFi platform that was recently hacked for over $2 million.
The Trump family has been actively promoting the project, with Eric Trump previously describing it as “digital real estate” that would “shake up the world of banking and finance.” The family has also issued warnings against fake projects and tokens that exploit the hype surrounding the project to defraud individuals.
In fact, hackers recently breached the social media accounts of Trump’s daughter, Tiffany, and his daughter-in-law, Lara Trump, disseminating fraudulent messages about the upcoming project.
The news of World Liberty Financial’s ambitious plans has sparked a surge in the value of AAVE, the native token of DeFi protocol Aave. The token experienced an 8.61% increase in the last 24 hours, according to data from Benzinga Pro.
Trump-themed Maga Coin was also trading at $3.11, experiencing a slight decline of 0.85% in the past 24 hours.
