Donald Trump to Launch Crypto-Focused World Liberty Financial on September 16

The United States presidential candidate Donald Trump announced Thursday that he would launch World Liberty Financial on September 16 via a Twitter Spaces session. Shortly after the announcement, 84% of bettors on the popular prediction market Polymarket expressed conviction that Trump will debut a crypto asset before the election.

Trump to Debut World Liberty Financial

Trump shared some insight into the purpose of the upcoming World Liberty Financial in a video published on X.

“We’re embracing the future with crypto and leaving the slow and outdated big banks behind,” he stated.

World Liberty Financial aims to offer investors decentralized finance (DeFi) and stablecoin functionalities. Its expected features include a dedicated digital wallet, lending, and borrowing. It also promised a “credit account system” developed on the DeFi lending protocol, Aave. The collaboration with Aave hints that the soon-to-be-introduced platform will likely launch on the Ethereum mainnet.

Backed by Trump and his sons, World Liberty Financial promises to facilitate the creating and spreading of U.S.-pegged stablecoins, ensuring that the country’s sovereign currency remains dominant in the stablecoin market.

Will Trump Introduce a Token?

World Liberty Financial’s whitepaper details a governance token called WLFI. However, 70% of the token’s supply will be issued to insiders. The remaining 30% is slated for the community, and insiders will also participate in the sale. A shocking revelation from CoinDesk shows that the token will be non-transferable like normal crypto assets. Various Trump supporters have questioned the presidential candidate’s promotion of the project.

Despite the unusual backstory behind World Liberty Financial’s WLFI, Polymarket bettors expressed optimism that Trump will deploy a token before the election. At press time, 70% of bettors remain convinced that a Trump-owned crypto asset will launch.

While it remains uncertain whether Trump will introduce a tradable crypto asset, it remains undisputed that he has shown support for Bitcoin and the crypto industry at large. He has also won the interest of several prominent crypto figures.