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WLFI Unveils World Swap Amid Renewed Scrutiny

Guavy AI Editorial Team
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World Liberty Financial (WLFI), a Trump-backed crypto venture, unveiled plans to launch a foreign exchange and remittance platform called World Swap at Consensus Hong Kong. Co-founder Zak Folkman said the service will offer simplified transfers at 'a fraction' of the fees charged by traditional providers.

Folkman also announced that World Liberty Markets, the company's lending platform launched four weeks ago, recorded $320 million in lending activity and more than $200 million in borrowings. The lending platform is part of WLFI's broader strategy to drive adoption of its USD1 stablecoin.

The move comes amid renewed political scrutiny around WLFI, following a letter from California Representative Ro Khanna announcing an investigation into Trump's crypto ties. The investigation seeks 'information and documents' to address concerns about the connections between the UAE, the PRC, and the White House.

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