Donald Trump Launches World Liberty Financial DeFi Project

Donald Trump Unveils World Liberty Financial DeFi Project

In a recent podcast aired on Thursday, Republican candidate Donald Trump announced the upcoming launch of his family-led decentralized finance (DeFi) initiative, World Liberty Financial, set to debut on September 16. Trump emphasized the importance of embracing modern financial systems, stating, “We are leaving the slow and outdated big banks behind.” He invited listeners to join him for a live session at 8 P.M. as excitement builds around the project.

World Liberty Financial is spearheaded by Trump’s sons, Eric Trump and Donald Trump Jr., with the involvement of Barron Trump, who is described as the project’s “DeFi visionary.” The initiative aims to leverage the innovative potential of decentralized finance to reshape the financial landscape.

A preliminary draft of the World Liberty Financial whitepaper, which was obtained by CoinDesk, outlines the project’s ambitious framework, featuring a “credit account system” built on the Aave DeFi platform and utilizing the Ethereum blockchain. This system is designed to facilitate decentralized borrowing and lending, marking a significant step toward financial independence from traditional banking structures.

Additionally, communications shared through the World Liberty Finance Telegram channel indicate plans for the creation of stablecoins pegged to the U.S. dollar. The project envisions the widespread distribution of U.S.-pegged stablecoins globally, with the goal of maintaining and enhancing the dominance of the U.S. dollar in the international financial system. This approach reflects a strategic ambition to ensure that the U.S. dollar remains a pivotal currency in the ever-evolving world of digital finance.