Trump-backed WLFI plans USD1 payments for online businesses
World Liberty Financial outlined plans to bring USD1 to major online platforms as Mesh announced a payments partnership scheduled to roll out this quarter.
World Liberty Financial (WLFI) announced plans to introduce USD1 stablecoin payments to major online platforms at a panel discussion during the Token2049 conference in Singapore. WLFI CEO Zach Witkoff and co-founder Zak Folkman participated in the stablecoin-focused panel alongside Mesh co-founder and CEO Bam Azizi. Azizi announced a partnership with WLFI that would allow USD1 holders to utilize the stablecoin across Mesh's merchant network.
The rollout of this technology is scheduled for this quarter, with WLFI aiming to extend it to some of the largest Web2 businesses in the market. WLFI is a crypto venture backed by the Trump family, and its USD1 stablecoin, issued by BitGo, is designed to maintain a value of $1 and is backed by cash, US government money market funds, and other cash equivalents.
The stablecoin's market capitalization is $4.45 billion, according to CoinGecko. In August, the US Office of the Comptroller of the Currency (OCC) granted conditional approval to WLFI to establish a national trust bank for issuing dollar-backed stablecoins and managing digital assets, which would enable WLFI to take over USD1 issuance.
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