Donald Trump has announced the launch of his decentralized finance (DeFi) crypto project, World Liberty Financial, slated for Monday.
What Happened: Trump revealed the launch date of his DeFi platform in a video update on social media platform X. The platform is designed to aid those who are underserved by the traditional banking system.
Trump invited the public to join him live on X Spaces for the project’s launch, emphasizing the project’s commitment to the future of crypto and the need to move away from the “slow and outdated big banks.”
"Join me live on Twitter Spaces at 8pm, September 16th, for the launch of World Liberty Financial. We're embracing the future with crypto and leaving the slow and outdated big banks behind," Trump said in the post.
World Liberty Financial issued a statement earlier this month highlighting its mission to promote stablecoins pegged to the US dollar and the concept of decentralized finance globally.
The project views stablecoins as the foundation of DeFi and aims to ensure that US dollar-pegged digital assets continue to be the global settlement layer for DeFi protocols.
"Our mission is crystal clear: make crypto and America great by driving the mass adoption of stablecoins and decentralized finance. We believe that DeFi is the future, and we're committed to making it accessible and secure for everyone,” Trump added in the post.
Also Read: Trump Brothers’ Cryptocurrency Start-Up Rattles Father’s Crypto Allies: ‘This Is A Huge Mistake’
“By spreading U.S.-pegged stablecoins around the world, we ensure that the US dollar's dominance continues, securing America's financial leadership and influence on the global stage," he said.
The project is working closely with cybersecurity firms and the prominent DeFi platform Aave (AAVE) to achieve its goals. Trump first announced the project in August, under the name The DeFiant Ones.
Why It Matters: The launch of World Liberty Financial marks a significant step in the integration of crypto into mainstream financial systems. With its focus on stablecoins and DeFi, the project aims to provide an alternative to traditional banking, particularly for those marginalized by the current system.
The collaboration with Aave, a leading player in the DeFi space, further underscores the project’s commitment to leveraging blockchain technology for financial inclusivity.
This move by Trump could potentially influence other high-profile individuals to explore and invest in the crypto and DeFi space, thereby driving its growth and adoption.
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This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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