World Liberty Financial, the crypto venture linked to President Donald Trump and his family, is set to launch a new foreign exchange and remittance platform soon, according to co-founder Zak Folkman. The new platform, World Swap, aims to settle foreign exchange remittances at a fraction of the fees charged by competitors, Reuters reported on Thursday. "There's over $7 trillion of money moving around the world from currency to currency," Folkman reportedly told the audience of the Web 3 event Consensus in Hong Kong. The news comes about a month after World Liberty Financial rolled out a platform to let users lend and borrow digital assets, called World Liberty Markets. World Liberty Markets was set to support the firm's own crypto tokens, including WLFI and the USD1 stablecoin, in addition to other major cryptocurrencies. The lending platform has recorded about $320M in lending and over $200M in borrowing, Folkman reportedly said at the event.
