(Kitco News) – Details regarding the Trump family’s crypto project remain closely guarded despite Presidential candidate Donald Trump using every opportunity available to promote the platform, but according to the latest statement from World Liberty Financial, the focus will be on encouraging the use of U.S. dollar-pegged stablecoins to “ensure US dollar dominance.”
“Rumors are flying, but here’s the real story behind World Liberty Financial (WLFI),” the company said in an X post. “We know the magnitude of what we’re building and its potential impact on both crypto and our country, especially with the upcoming elections.”
After noting that the project is working closely with “the top security experts in the world,” WLFI said the source code for their decentralized finance (DeFi) platform has been vetted by these industry leaders as they focus on “utilizing best practices and making user security our primary concern.”
While many expect the platform to be another attempted money grab that just copies the code for other projects – a development that happens quite frequently in the world of crypto – WLFI stressed that they are collaborating with some of the top DeFi protocols in the space to bring something that will add value to the community.
“Let's be clear: we’re not just another hostile fork of @aave. History shows those don't work,” they said. “We’re working with Aave, collaborating to create a platform that sets new standards and pushes all of DeFi forward. This is a partnership to build something truly transformative.”
“Our mission is crystal clear: Make crypto and America great by driving the mass adoption of stablecoins and decentralized finance,” they added. “We believe that DeFi is the future, and we’re committed to making it accessible and secure for everyone.”
To achieve this goal, WLFI is focused on promoting the use of USD-pegged stablecoins, such as Tether (USDT) and Circle’s USDC – the two leading stablecoins with a combined market cap of over $153 billion.
“Here’s why stablecoins matter: We want U.S.-pegged stablecoins to remain the world’s settlement layer for the next 100 years,” they said. “The U.S. dollar has been the backbone of global finance for decades, but it’s now under attack by foreign nation-states. 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.”
They also took the opportunity to push back against detractors who think this will join the long list of failed Trump ventures.
“To those who are skeptical or listening to the noise: our plan will speak for itself,” they wrote. “The brightest minds in crypto are backing us, and what’s coming will make all doubters think twice. Stay tuned. This is just the beginning. We’re here to win, and we’re here to change the game. Let’s make DeFi, and America, great again.”
During a speech at The Economic Club of New York on Thursday, Trump reiterated his views about the US dollar’s status as the reserve currency and warned that harsh, extended sanctions pose the biggest threat to retaining that status.
“Losing reserve currency status would be like losing a major war,” Trump said, vowing to do everything in his power to keep the USD atop the global economic system.
Portions of his plan include increasing tariffs on goods coming into the country, with some of the funds raised by tariffs going towards creating a sovereign wealth fund for the U.S. (or something like it, Trump said), which could be used to invest in key sectors of the economy and pay down the national debt.
