World Liberty Financial, a decentralised finance platform backed by the family of US President Donald Trump, plans to launch a foreign exchange and remittance service aimed at challenging traditional providers.
The proposed platform, named World Swap, is designed to offer lower fees and a simplified user interface as it seeks to capture a share of the $9.6 trillion in daily global FX trading volume reported by the Bank for International Settlements.
The company is also targeting the personal remittances market, which the World Bank estimates reached $892 billion in annual flows in 2024.
No timeline has been provided for the rollout, though the initiative follows WLFI’s application for a national trust bank charter in January and the launch of its World Liberty Markets lending platform.
The expansion comes amid political scrutiny after reports that a United Arab Emirates-linked investment vehicle acquired a 49% stake in WLFI for $500 million days before Trump’s January 20, 2025 inauguration.
“This is about public trust and transparency,”
Said Democratic Representative, Ro Khanna, in response to the reported transaction.
Democratic lawmakers have raised concerns that the deal could present national security risks or create potential conflicts of interest, intensifying oversight as WLFI broadens its ambitions in digital finance.
At the time of reporting, World Liberty Financial price was $0.1042.