Trump-backed WLFI plans USD1 payments for online businesses

What happened

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) executives unveiled plans to bring USD1 stablecoin (a digital token meant to hold a fixed value, usually one dollar) payments to major online businesses during a panel discussion at Token2049 in Singapore on Wednesday.

Azizi unveiled a partnership with WLFI that would enable USD1 holders to spend the stablecoin across the payment infrastructure provider’s merchant network. WLFI CEO Zach Witkoff and co-founder Zak Folkman took part in a stablecoin-focused panel discussion at the industry conference alongside Mesh co-founder and CEO Bam Azizi.

The rollout is planned for this quarter. WLFI’s Zak Folkman speaks during a stablecoin panel at Token2049 in Singapore on Wednesday.

Its USD1 stablecoin is designed to maintain a value of $1 and is issued by BitGo, with reserves comprising cash, US government money market funds and other cash equivalents. The stablecoin’s market capitalization stood at $4.45 billion, at the time of writing, according to CoinGecko.

Key facts

• World Liberty Financial outlined plans to bring USD1 to major online platforms as Mesh — announced: a payments partnership scheduled to roll out this quarter