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Trump-linked WLFI's Zak Folkman teases forex platform at Consensus Hong Kong

Folkman says more details will be revealed soon at an event at Mar-a-Lago.

What to know:

World Liberty Financial, a Trump-family-linked crypto project, plans to launch a foreign exchange platform called World Swap as part of its USD1 stablecoin ecosystem.

Co-founder Zak Folkman said World Swap aims to simplify cross-border transfers and challenge traditional remittance providers that charge fees of 2% to 10% per transaction.

The company is building a broader financial stack around its cash-backed USD1 stablecoin, including the recently launched World Liberty Markets lending platform, which has attracted hundreds of millions of dollars in deposits.