WLFI Alliance announced the launch of a cross-border remittance service platform, which will be built around USD1 to create a complete financial product matrix.

BlockBeats News, February 12th, the cryptocurrency project World Liberty Financial associated with the Trump family plans to launch the foreign exchange platform World Swap as part of its USD1 stablecoin ecosystem.

Co-founder Zak Folkman stated at the Consensus Hong Kong conference that World Swap aims to streamline the cross-border transfer process, directly challenging traditional remittance service providers, which often charge a fee of 2% to 10% per transaction.

Folkman revealed that the company is building a more comprehensive financial product matrix around its cash-backed USD1 stablecoin, including the recently launched lending platform World Liberty Markets. The platform attracted hundreds of millions of dollars in deposits within weeks of its launch.

With the preview of the forex business, the product line around the USD1 stablecoin is rapidly expanding. The project is positioning itself as a full-stack financial ecosystem and is expected to make more announcements later this month at an event at Mar-a-Lago.

At the event, Folkman stated that the company's goal is to simplify most of the complexities in crypto wallets and cross-border transfers, allowing users to conveniently send and receive digital dollars as they would with mainstream payment apps. He directly positioned the forex service in this plan as a positive challenge to traditional remittance giants.