Overview
- Co-founder Zak Folkman announced the planned platform at Consensus Hong Kong, with no launch date or pricing disclosed and fuller details promised at a Mar-a-Lago event later this month.
- World Swap is designed to connect users directly to bank accounts and debit cards and to settle transfers using WLFI’s USD1 stablecoin, which the company says is backed by cash and cash equivalents.
- The company targets fees below the roughly 2%–10% charged by incumbent providers and says it aims to simplify cross-border transfers for non-crypto users.
- WLFI reported early ecosystem traction, citing $320 million in lending and more than $200 million borrowed on its World Liberty Markets platform within four weeks of launch.
- Trademark filings for “World Swap” were spotted under Puerto Rico-based AMG Software Solutions LLC, and the venture’s growth has drawn ethics scrutiny over Trump family ties even as the White House rejects conflict-of-interest claims; CoinGecko data reported USD1’s market value around $5.3 billion.