Key Takeaways
- World Liberty Financial launched World Liberty Markets to enhance utility for its USD1 stablecoin.
- At present, the lending markets support assets on the Ethereum network, with more assets and network support planned over time.
World Liberty Financial, the DeFi venture backed by the two Trump sons, has rolled out World Liberty Markets, a new lending and borrowing platform that lets users earn yield and access liquidity directly onchain.
According to the company, the product is designed to give users greater financial flexibility by removing intermediaries commonly found in traditional financial systems.
Powered by Dolomite, the platform currently supports only the Ethereum network but plans to expand to additional chains in the future. At launch, available assets include Ethereum, cbBTC (Coinbase Wrapped Bitcoin), USDC, USDT, USD1, and WLFI.
Zach Witkoff, CEO of World Liberty, expects the protocol to drive greater adoption of their USD1 stablecoin, which has grown to roughly $3.4 billion in market value since its launch last year, per CoinGecko.
World Liberty plans to expand its collateral options over time, potentially including real-world assets, Bloomberg reported. The firm is developing tokenized commodities, crypto debit cards, and exploring tokenized real estate.
The company, which has recently applied to become a national stablecoin-focused bank, plans to launch its WLFI app later this year, incorporating lending functionality.
Source: https://cryptobriefing.com/trump-backed-world-liberty-launches-new-lending-platform/
