Former President Donald Trump’s crypto project, World Liberty Financial, is reportedly planning to issue its own stablecoin. The stablecoin is expected to be pegged to the U.S. dollar to maintain a steady value amid the cryptocurrency market’s volatility. Sources close to the project indicate that World Liberty is still assessing how to safely structure the coin before its launch.

This new venture follows World Liberty’s recent $14 million initial token sale and coincides with the appointment of Paxos co-founder Rich Teo, who will oversee the project’s stablecoin development.

World Liberty Financial’s Upcoming Initiatives

On October 9, World Liberty Financial revealed through a governance proposal its intention to launch a service as an Aave V3 instance on the Ethereum mainnet. The decentralized platform Aave will serve as the backend for this initiative.

The proposal states that World Liberty Financial’s Aave V3 instance will aim to enhance stablecoin liquidity for Ethereum and Wrapped Bitcoin, as well as contribute to the expansion of Aave’s user community.

Strategic Shift and Market Impact

The proposed stablecoin marks a strategic shift for Trump’s venture, which has already made headlines with plans for an Ethereum-based borrowing and lending platform.

World Liberty Financial

Former President Donald Trump launched World Liberty Financial on September 16, positioning it as a decentralized finance platform intended to empower users, with Eric Trump and Donald Trump Jr. serving as “Web3 Ambassadors.”

However, skepticism has emerged over the project’s legitimacy due to a governance token distribution that heavily favors insiders and links to individuals associated with a recent blockchain hack.

Despite bold statements from World Liberty Financial’s social media, concerns about transparency and the project’s unfinished white paper continue to raise doubts among industry observers.

“Transparency and structure are critical for the success of any new cryptocurrency initiative,” said a source close to the project.

As the project progresses, it will be essential for World Liberty Financial to address these concerns to gain trust and attract a broader user base. Stay updated with the latest developments in the cryptocurrency market, including World Liberty Financial’s new projects.

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