World Liberty Financial, the Trump-family-linked crypto project, will launch a foreign exchange platform called World Swap, co-founder Zak Folkman announced at Consensus Hong Kong. The new service aims to challenge traditional remittance providers by offering lower-cost cross-border transfers using the project’s USD1 stablecoin, with further details expected at a Mar-a-Lago event later this month.
The forex platform represents the latest addition to World Liberty Financial’s growing ecosystem, which already includes World Liberty Markets, a lending platform that has attracted hundreds of millions of dollars in deposits since launching in January. The company is positioning itself as a full-stack financial infrastructure built around its dollar-pegged stablecoin.
World Swap is a foreign exchange service designed to simplify international money transfers using blockchain technology. According to Folkman, the platform will abstract away the complexity of crypto wallets and cross-border transactions, allowing users to send and receive digital dollars similar to popular payment apps like Venmo or PayPal.
The service targets traditional remittance providers that typically charge fees ranging from 2% to 10% per transaction. By using blockchain rails and the USD1 stablecoin, World Swap aims to reduce these costs while maintaining faster settlement times compared to conventional wire transfers or money transfer operators.
Folkman said USD1 is backed by cash and cash equivalents, providing dollar parity for users who want stable value during international transfers. The stablecoin currently has a market capitalization of approximately $5.36 billion, making it the seventh-largest USD-pegged stablecoin according to CoinGecko data.
World Liberty Financial operates multiple products centered around USD1. The company launched World Liberty Markets in January, a lending and borrowing platform that allows users to supply digital assets to earn yield or borrow against their holdings.
The lending platform uses infrastructure provided by Dolomite, an existing decentralized finance protocol. Instead of building smart contracts from scratch, World Liberty Financial created a branded interface that connects to Dolomite’s money market system.
World Liberty Markets supports six assets at launch:
Users can deposit these tokens into smart contracts, creating liquidity pools that other users can borrow from. Interest rates adjust automatically based on supply and demand, with all transactions executed on-chain through Dolomite’s contracts.
Early lending data shows users can borrow USD1 at around 0.83% and earn approximately 0.08% by lending it. These rates are expected to change as more capital enters the platform.
USD1 serves as the foundation for World Liberty Financial’s product suite. The stablecoin is designed for on-chain trading, payments, and settlement, with the company claiming it reached roughly $3 billion in total value locked within six months of launch.
In December, World Liberty Financial proposed using up to 5% of its WLFI token treasury to support USD1 growth. The governance proposal asked token holders to approve limited treasury usage to expand stablecoin supply and fund partnerships across centralized and decentralized crypto platforms.
The proposal outlined specific commitments to provide oversight:
According to the project team, USD1 adoption directly benefits WLFI holders because the token serves as the governance layer for ecosystem decisions. As more platforms integrate USD1, questions about liquidity incentives, partnerships, and expansion fall under WLFI governance control.
Binance holds approximately 87% of all USD1 in circulation, totaling roughly $4.7 billion of the $5.4 billion total supply, according to Forbes analysis of Arkham Intel blockchain data. This concentration represents the highest third-party exchange holdings among the top 10 stablecoins by market capitalization.
The concentration developed through several strategic moves. In late January, Binance announced USD1 holders would receive $40 million worth of WLFI governance tokens, incentivizing users to hold the stablecoin on its platform rather than transfer it elsewhere.
A larger shift occurred in May 2025 when MGX, a state-backed Abu Dhabi technology fund, used $2 billion worth of USD1 to invest in Binance. The transaction placed a significant portion of USD1’s reserves under Binance custody while generating interest income for World Liberty Financial’s owners.
In December, Binance converted assets backing its discontinued BUSD stablecoin into USD1. World Liberty Financial stated this move “further embedded the stablecoin within the exchange’s ecosystem,” making it “an integral part of Binance’s updated collateral structure.”
World Liberty Financial has established multiple products around its USD1 stablecoin, including the upcoming World Swap forex platform and the existing World Liberty Markets lending service.
