Trump announces launch of cryptocurrency platform

Former US President and Republican nominee Donald Trump

Donald Trump and his son announced a new cryptocurrency platform named "World Liberty Financial," with a strong focus on digital assets, just 50 days before the upcoming election.

In a live broadcast on "X Spaces," Donald Trump Jr., the former U.S. President’s son, said "World Liberty Financial" will operate within the decentralized finance (DeFi) sector of digital assets. The platform is designed to enhance financial security and allow for greater transactional freedom.

The mission of "World Liberty Financial" is to elevate both cryptocurrencies and America by advancing the widespread adoption of stablecoins and decentralized finance.

“We are embracing the future with cryptocurrencies and leaving behind the slow and outdated big banks,” Trump stated in a video released last week.

This announcement follows Trump’s survival of a second assassination attempt within two months and comes as the presidential election nears.

According to the Financial Times, Zack Volkman, a staff member at "World Liberty Financial," revealed that the company will use straightforward products interacting with stablecoins—digital currencies pegged to the U.S. dollar—rather than reinventing existing financial systems.