Trump-linked WLFI’s Zak Folkman teases forex platform at Consensus Hong Kong

WLFI$0.1063, the Trump-family-linked crypto project, will soon launch a foreign exchange platform called World Swap, its co-founder, Zak Folkman, said on stage at Consensus Hong Kong.

The forex teaser adds to a growing list of products orbiting the project’s USD1 stablecoin as the project positions itself as a full-stack financial ecosystem, with further announcements expected at a Mar-a-Lago event later this month.

Speaking on stage, Folkman said the company’s goal is to abstract away much of the complexity associated with crypto wallets and cross-border transfers, allowing users to send and receive digital dollars in a manner similar to popular payment apps.

He framed the planned foreign exchange service as a direct challenge to traditional remittance providers that often charge fees ranging from 2% to 10% per transaction.

The company’s broader strategy centers on USD1, a dollar-pegged stablecoin that Folkman said is backed by cash and cash equivalents.

Folkman also highlighted the launch of World Liberty Markets, a lending platform that has attracted hundreds of millions of dollars in deposits within weeks of going live, and partnerships with decentralized finance protocols to increase the token’s utility.

In late January, Crypto Twitter users had spotted AMG Software Solutions LLC, a Puerto Rico-based company that owns WLFI’s intellectual property, had registered trademarks related to World Swap.