Word Liberty Financial, a decentralized finance (DeFi) firm affiliated with US President Donald Trump, is preparing to release the first audit of its dollar-pegged USD1 stablecoin. The company also plans to launch a mobile app aimed at retail users and make its native WLFI token transferable. The announcements were made by the company’s co-founder, Zak Folkman, at the ‘Permissionless IV’ conference in Brooklyn on Wednesday.
The project, which lists Donald Trump, and three of his sons – Donald Trump Jr., Eric Trump, and Barron Trump – as co-founders and team members, focuses on providing DeFi and stablecoin services, branding itself as a disruptor of traditional finance. The President exited his position in WLF after assuming office in January.
World Liberty Financial To Release First Audit Report For USD1 Stablecoin
Speaking to Blockworks’ Jason Yanowitz, Folkman said that WLFI had recently received its first attestation report from an auditing firm. He added that the report, which will be published on the project’s website in the “next few days”, will provide details on the reserves backing USD1. The stablecoin backed by US dollar deposits, cash equivalents, and US Treasuries has grown to a $2.2 billion valuation since its launch in March.
USD1, issued on the Ethereum, Stellar, BNB Chain, and Tron blockchains, offers secure, fast, and low-cost transactions across the networks. The stablecoin’s issuance and supply are managed by the BitGo Trust Company, a regulated trust entity based in South Dakota that is compliant with US regulatory standards.
In April, Abu Dhabi-based investment firm MGX closed a $2 billion investment deal involving Binance in USD1. Later that month, World Liberty Financial signed a memorandum of understanding (MOU) with the Pakistan Crypto Council (PCC) to oversee the growth of the blockchain industry and provide guidance on crypto infrastructure, education, and adoption for the public and private entities in the country.
Despite its lightning-fast growth, USD1 faces stiff competition from leading stablecoin firms Tether and Circle, whose USDT and USDC coins account for 91% of the entire $231 billion stablecoin market. USD1 is available on leading centralized and decentralized crypto exchanges, such as Binance, Bitget, PancakeSwap, and Uniswap.
WLF recently entered a strategic partnership with decentralized oracle network Chainlink to utilize the Chainlink Interoperability Protocol (CCIP) to execute frictionless USD1 transactions across blockchain networks.
WLF Announces Potential Listing For WLFI Token and New Retail-Focused Crypto App
During the fireside chat at Permissionless, Folkman hinted at a significant update that may be coming to the project’s WLFI governance token. While the Ethereum-based cryptocurrency grants voting rights to holders, it is practically nontransferable. This is set to change, and WLFI is expected to become a tradable token that will be launched on exchanges over the “next couple of weeks”, according to the co-founder.
He also added that World Liberty Financial plans to launch a new app designed to make using crypto much easier for retail investors. Folkman believes that the move could broaden the platform’s appeal.
The project has brought in hundreds of millions of dollars for President Trump. According to his 2025 financial disclosure filed with the Office of Government Ethics, Trump earned $57.4 million from World Liberty Financial and holds over 15 billion WLFI tokens. His income mainly comes from token sales.
Earlier this month, the Trump family reportedly reduced their stake in the company from 60% to 40%, a move that pocketed them about $190 million. The President and his sons owned WLF through DT Marks DEFI LLC, an entity created in 2016 that was then known as DT Tower II LLC.
Since its launch in September 2024, World Liberty Financial has raised $550 million through two separate token sale events. The project has also attracted notable investors, including Tron founder Justin Sun, who purchased $30 million worth of WLFI tokens, and crypto venture capitalists Oddiyana Ventures and Web3Port.
WLF has come under scrutiny from several lawmakers and critics, who questioned the timing of the President’s crypto-related ventures, particularly as his administration has adopted a friendlier regulatory approach towards the industry. Despite the criticism, World Liberty Financial continues to grow, with the USD1 stablecoin gaining significant traction among institutional and retail investors.
