Trump’s World Liberty eyes stablecoin launch: report 

Former President Donald Trump’s crypto project World Liberty Financial is reportedly planning to launch its own stablecoin, according to Decrypt.

The stablecoin is expected to be pegged to the US dollar to maintain a stable value amid volatility in the cryptocurrency market. Sources close to the project told Decrypt that World Liberty is still evaluating how to securely structure the cryptocurrency before its launch.

This new initiative 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.

On October 9, World Liberty Financial announced its intention to launch a service as an Aave V3 instance on the Ethereum (ETH) mainnet through a governance offering. Decentralized platform Aave (AAVE) will serve as the backend for this initiative.

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

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

World Freedom Finance

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

However, doubts have been raised about 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 on World Liberty Financial’s social media, concerns about transparency and the project’s incomplete technical review continue to raise doubts among industry observers.