The Trump family’s cryptocurrency project reaches a decisive milestone in the decentralized finance sector. World Liberty Financial (WLFI) has launched World Liberty Markets, a lending and borrowing platform powered by the Dolomite protocol, while filing for a federal banking license to strengthen its ecosystem around the USD1 stablecoin.
A Complete DeFi Ecosystem Around USD1
Deployed on January 12, 2026, World Liberty Markets marks WLFI’s second major product following the successful launch of its USD1 stablecoin in March 2025. This non-custodial platform enables users to lend and borrow digital assets in a secure and decentralized environment.
At launch, the ecosystem supports a diverse range of assets: USD1, the WLFI governance token, Ether (ETH), Coinbase’s tokenized Bitcoin cbBTC, as well as leading stablecoins USDC and USDT. This multi-asset integration offers USD1 holders new yield opportunities while strengthening the ecosystem’s overall liquidity.
According to Zach Folkman, co-founder and COO of World Liberty Financial, the goal is clear: « to give USD1 users access to even more ways to put their stablecoins to work. » The company plans to gradually expand the types of accepted collateral, with ambitions to include tokenized real-world assets.
USD1: Explosive Growth to $3.4 Billion
Since its launch in March 2025, the USD1 stablecoin has experienced remarkable expansion, reaching a market capitalization of $3.4 billion. This performance positions USD1 as the seventh-largest USD-backed stablecoin globally, a success fueled by strategic partnerships of the highest caliber.
The partnership with Binance proves particularly significant, having facilitated a major $2 billion USD1 transaction with MGX, an investment firm based in Abu Dhabi. This operation demonstrates the growing interest from international financial institutions in the WLFI ecosystem.
Unlike many stablecoins on the market, USD1 stands out with its solid reserve structure. The token is fully backed by US dollars and US government money market funds, with reserves secured by BitGo. The multi-chain strategy is also central to the deployment, with availability across 10 different blockchain networks to maximize accessibility and interoperability.
A Strategic Federal Banking License Application
Parallel to launching its lending platform, World Liberty Financial has achieved a major regulatory milestone by filing an application with the Office of the Comptroller of the Currency (OCC) to create World Liberty Trust Company (WLTC), a national trust bank specialized in stablecoin operations.
If this license is approved, WLFI will be able to issue and custody USD1 completely independently, without relying on third-party providers. Zach Witkoff, co-founder of World Liberty Financial, emphasizes that this regulatory approach would provide « the regulatory clarity that banks, asset managers, and companies need to expand their use of USD1. »
The trust bank would notably offer free conversion services between US dollars and USD1 at launch, removing frictions for institutional adoption. This initiative comes amid intense debate over stablecoin regulation in the United States, where discussions on digital asset market structure are attempting to find consensus on issues of rewards and yields.
An Ambitious Roadmap for 2026-2027
World Liberty Financial doesn’t stop there and unveils a strategic vision for the next 18 months. Beyond expanding World Liberty Markets to other blockchains, several major developments are planned:
- Integrated mobile application: A comprehensive mobile platform integrating all lending and borrowing functionalities to facilitate access to DeFi services
- USD1 debit card: A physical and virtual payment system linked to the stablecoin, accompanied by a loyalty points program to encourage daily usage
- Real-world asset tokenization: Exploring the tokenization of real estate properties, potentially linked to the Trump Organization, to create a bridge between traditional and decentralized finance
This real-world asset tokenization strategy would position WLFI at the intersection of DeFi and traditional markets, a segment increasingly coveted by financial institutions seeking to modernize their operations.
Implications for the Crypto Ecosystem
The launch of World Liberty Markets and the banking license application signal significant maturation of the Trump project in the cryptocurrency sector. By providing concrete utility to USD1 beyond simple value storage, WLFI enters direct competition with established giants like Tether (USDT) and Circle (USDC), whose combined market capitalization exceeds $150 billion.
For investors and users, this expansion offers new yield opportunities within the WLFI ecosystem. However, it also raises legitimate questions about potential conflicts of interest, given the family ties with President Trump. The Trump family currently holds 40% of the company after reducing its initial 75% stake, and has already generated $1 billion in profits from WLFI token sales by December 2025.
Integration with Dolomite, a proven lending protocol, provides robust and tested infrastructure, reducing technical risks associated with the new product. However, as with any DeFi protocol, users must conduct their own due diligence and carefully assess smart contract and liquidity risks before committing funds.
Conclusion
World Liberty Financial is transforming its USD1 stablecoin from a simple payment instrument into a complete and ambitious DeFi ecosystem. With $3.4 billion in circulation, an operational lending platform powered by Dolomite, and a banking license application under review, the Trump project positions itself as an emerging major player in institutional decentralized finance.
The success of this ambition will depend on several critical factors: adoption by users and institutions, the ability to navigate the complex US regulatory landscape, and transparent management of conflict of interest perceptions related to proximity to political power. The coming months will be crucial in observing whether WLFI can truly establish itself against the entrenched giants of the stablecoin market.
