Trump-linked World Liberty Financial to launch forex remittance platform

FILE PHOTO: World Liberty Financial and ALT5 Sigma at the Nasdaq Market, in New York · Reuters

Selena Li

Thu, February 12, 2026 at 6:25 PM GMT+9 1 min read

By Selena Li

HONG KONG, Feb 12 (Reuters) - World Liberty Financial, a crypto venture backed by the family of U.S. ‌President Donald Trump, said on Thursday it plans ‌to roll out a new foreign exchange and remittance platform, offering simplified services ​with lower fees.

The firm will launch the platform, World Swap, soon, Zak Folkman, co-founder of World Liberty told the audience of the Web 3 event Consensus in Hong Kong.

“There’s over $7 trillion ‌of money moving around ⁠the world from currency to currency, and all of this has been taxed very heavily by ⁠the incumbent players,” he said.

The crypto firm said it wants to connect users directly to debit cards and bank accounts ​around the ​world and settle foreign exchange ​remittances at what it says ‌will be “a fraction of” the fees charged by competitors.

World Liberty Markets - World Liberty’s lending platform, which launched four weeks ago as part of a push for greater usage of its USD1 stablecoin - has recorded $320 million in lending and more than $200 ‌million borrowed, Folkman said.

World Liberty fuelled ​a sharp increase in income for ​the Trump family business, ​known as the Trump Organization, including from foreign ‌entities, in the first half ​of last year, ​Reuters reported in October.

The growth of the Trump family’s crypto initiatives as Trump oversees U.S. crypto policy constitutes ​a conflict of ‌interest, government ethics experts have said. The White House ​has denied that any such conflicts exist.

(Reporting by Selena ​Li; Editing by Joe Bavier)

Terms and Privacy Policy

Privacy Dashboard

More Info