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Trump-Backed WLFI Expands Into $9.6T FX Market With ‘World Swap’ Launch
- WLFI is moving into foreign exchange and remittances with a USD1-based platform targeting lower transfer costs.
- The launch positions the firm within a US$9.6 trillion (AU$13.54 trillion) daily FX market and a US$892 billion (AU$1.26 trillion) remittance sector.
- The rollout follows a trust bank charter bid and lending platform launch, amid scrutiny from US lawmakers.
World Liberty Financial (WLFI) is extending its decentralised finance operations into foreign exchange and cross-border payments with the planned launch of World Swap. The Trump-family-linked venture outlined the new service as an FX and remittance platform designed to challenge incumbent providers on price and usability.
The scale of the opportunity is significant. Global FX markets recorded average daily turnover above US$9.6 trillion (AU$13.54 trillion) in April 2025, according to the Bank for International Settlements. Meanwhile, worldwide personal remittances totalled US$892 billion (AU$1.26 trillion) in 2024, based on World Bank figures.
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Lower Fees and Simpler Transfers
Speaking at Consensus Hong Kong, co-founder Zak Folkman presented World Swap as an extension of WLFI’s USD1 stablecoin ecosystem. He framed the product as a way to reduce friction in cross-border transfers and to make sending and receiving digital dollars resemble mainstream payment applications.
Company statements cited traditional remittance fees ranging from 2% to 10% per transaction, underscoring the cost gap World Swap intends to address. No specific pricing or launch date was disclosed.
The expansion builds on earlier steps, including WLFI’s application for a national trust bank charter in January and the debut of its lending arm, World Liberty Markets, which attracted hundreds of millions of dollars in deposits within weeks. At the same time, Democratic lawmakers have raised concerns over the project’s foreign investment links.
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Author
Rachel Lourdesamy
Rachel is a freelance writer based in Sydney with experience within financial services, marketing, and corporate communications in the APAC region. An avid reader and a graduate of the University of Sydney, she covers topics including business, finance and human interest.
