Trump Family's World Liberty Financial Project Aims To Preserve Dollar’s Global Dominance Via Stablecoins

Trump Family’s World Liberty Financial Project Aims To Preserve Dollar’s Global Dominance Via Stablecoins

Updated: 05 September 2024

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The Trump family’s World Liberty Financial crypto project is on a mission to bolster the global dominance of the US dollar by promoting the widespread adoption of dollar-pegged stablecoins and decentralized finance (DeFi).

That’s according to a Sept. 4 thread on X, which emphasized the importance of maintaining the dollar as the world’s leading settlement currency for the next century.

“By spreading U.S.-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage,” it said. “The U.S. dollar has been the backbone of global finance for decades, but it’s now under attack by foreign nation-states.“

The initiative is being positioned as a safeguard against growing concerns that the US dollar’s global influence is waning.

[6/7] By spreading U.S.-pegged stablecoins around the world, we ensure that the U.S. dollar’s dominance continues, securing America’s financial leadership and influence on the global stage. 🇺🇸💰

— WLFI (@worldlibertyfi) September 4, 2024

US Dollar “Under Attack”

These concerns are driven in part by the rise of BRICS, an alliance of nations including Brazil, Russia, India, China, and South Africa, along with recent additions such as Iran, Egypt, Ethiopia, and the UAE. The BRICS countries have started conducting commodities transactions using currencies other than the dollar, fueling fears of de-dollarization.

In response to this perceived threat, World Liberty Financial plans to aggressively promote U.S. dollar-pegged stablecoins worldwide, aiming to secure America’s financial leadership and influence in the evolving global economy.

World Liberty Financial Working With Aave, Top Security Experts

In the X thread, World Liberty Financial said that DeFi is the future. In order to establish itself in the burgeoning sector, the project is teaming up with some of the “top security experts in the world.” The project also said that all of its code has been “thoroughly reviewed” to ensure that coding best practices were followed.

World Liberty Financial is also working with the DeFi protocol Aave. Through this partnership, the project believes it can build something “truly transformative.”