World Liberty Financial Plans USD1 Stablecoin Payments for Big Online Brands

World Liberty Financial, the crypto venture backed by President Donald Trump’s family, says it is working to put its USD1 stablecoin into the checkout flow of large internet companies. CEO Zach Witkoff and co-founder Zak Folkman discussed the plan on a stablecoin panel at Token2049 in Singapore on Wednesday. Folkman said the same technology used inside the World Liberty app is already being prepared for some of the biggest Web2 players. Cointelegraph reported, Mesh CEO and co-founder Bam Azizi also joined the panel and announced a partnership that lets USD1 holders spend the coin across Mesh’s merchant network, with launch expected this quarter.

How USD1 Is Backed and Its Market Size

USD1 aims to stay pegged at $1 and is currently issued by BitGo. Its reserves include cash, US government money market funds and similar cash equivalents.

WLFI National Trust Bank Charter and USD1 Issuance

In August, the Office of the Comptroller of the Currency gave conditional approval for WLFI to set up a national trust bank for issuing dollar backed stablecoins and holding digital assets. Witkoff said the charter would let the company issue USD1 itself instead of relying on BitGo.

Warren Criticism and the OCC Response

Senator Elizabeth Warren raised conflict-of-interest concerns tied to the Trump family’s links to WLFI, and she and other senators introduced the Ending Presidential Corruption in Banking Act. The OCC replied that its leaders and staff followed their legal and ethical duties during the review. Witkoff said the approval came despite attacks from media and politicians.