World Liberty Financial, the crypto project connected to President Donald Trump’s family, has announced a partnership with satellite startup Spacecoin. The deal aims to explore decentralized finance applications through space-based internet connectivity.
MAJOR ANNOUNCEMENT
In a move anchored by a token swap with @worldlibertyfi, we’re entering into a strategic partnership to explore new solutions that converge the decentralized technology of finance and satellite internet connectivity.
Together, we will continue… pic.twitter.com/XnTRfdOKUx
— Spacecoin
The partnership was announced Thursday in a blog post from Spacecoin. The collaboration includes a token swap between the two companies, though neither party shared the specific terms of the agreement.
The main goal is to integrate World Liberty Financial’s USD1 stablecoin into Spacecoin’s satellite infrastructure. This would allow financial services to reach populations without access to traditional banking systems.
Zak Folkman, co-founder of World Liberty Financial, explained the reasoning behind the partnership. He said USD1 is designed to support real-world payment and settlement activity.
“Partnerships like this are focused on exploring payments, settlement, and coordination in environments where traditional financial rails may be limited,” Folkman stated in the announcement.
Spacecoin has been developing a low-Earth orbit satellite network. The company recently launched three satellites into orbit as part of this infrastructure project.
The startup positions its technology as an alternative to ground-based broadband internet services. Spacecoin is building what it calls a decentralized physical infrastructure network.
Tae Oh, founder of Spacecoin, commented on the need for proper financial systems in this new technology. He said partnering with World Liberty Financial provides users access to trusted DeFi solutions.
“When our users come online for the first time, they can have access to one of the most important internet capabilities: to financially transact,” Oh said.
The partnership represents another expansion effort for World Liberty Financial’s USD1 stablecoin. The project launched USD1 last year as a dollar-pegged digital asset.
USD1 currently has a market capitalization of roughly $3.27 billion as of Thursday, according to The Block’s data. World Liberty Financial has been working to increase adoption of the stablecoin across different platforms.
The project recently pushed into crypto lending through its World Liberty Markets platform. The company has positioned USD1 as a settlement asset for various financial transactions.
Last month, World Liberty Financial announced plans to roll out real-world asset products using USD1 as collateral. The company also submitted an application to open its own trust bank charter.
World Liberty Financial has proposed using some of the project’s treasury funds to boost USD1 supply. These funds would encourage adoption on both centralized and decentralized exchanges.
The company also announced plans for a WLFI debit card in September, though no updates on that development have been shared since. The partnership with Spacecoin adds to World Liberty Financial’s growing list of collaborations.
Earlier this month, Pakistan signed a memorandum of understanding with a World Liberty affiliate to explore potential applications of USD1 in payments and remittances.
The post World Liberty Financial Partners with Spacecoin for Satellite-Based DeFi Network appeared first on CoinCentral.
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