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Trump-linked World Liberty Financial and Spacecoin Team Up for Satellite-Powered DeFi

Highlights:

  • World Liberty Financial and Spacecoin will integrate satellite internet with DeFi solutions.
  • USD1 stablecoin aims to support global payments in remote areas with new partnerships.
  • Spacecoin’s satellite network expansion supports financial access in underserved regions.

World Liberty Financial, a crypto company with ties to the Trump family, has partnered with Spacecoin, a satellite startup. The partnership includes a token exchange between the two parties, which is one of the significant steps toward the integration of decentralized finance (DeFi) and satellite internet connectivity. The strategic alliance strives to offer financial services to people outside traditional banking networks, particularly where terrestrial infrastructure is lacking.

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The Vision Behind World Liberty Financial and Spacecoin Partnership

The primary mission of the partnership is to facilitate global payment and settlement operations in areas that might be inaccessible to traditional financial systems. World Liberty Financial believes the satellite network of Spacecoin could become a game-changer in internet connectivity. Spacecoin recently deployed three satellites into space, and its expanding satellite constellation is already providing internet connectivity to remote regions.

Zak Folkman, co-founder of World Liberty Financial, stated,

“Spacecoin is addressing a significant infrastructure challenge by introducing space internet access. What is most remarkable is the emphasis on implementation and functionality.”

Spacecoin’s Ambitious Goals and the Role of USD1

The mission of Spacecoin is clear: the use of space-based internet to offer universal connectivity. However, it is not just connectivity. The startup acknowledges that access to financial services is the key to true digital freedom. Through the partnership with World Liberty Financial, it aims to provide its customers with the option of transacting financially as they access the internet.

Founder of Spacecoin, Tae Oh, commented, saying,

“We are on a mission to provide connectivity to everyone, everywhere. Digital freedom is not complete without robust and fair financial services. This is why collaboration with World Liberty Financial is important.”

USD1 Stablecoin and DeFi Expansion

World Liberty Financial plans to expand the usage of its USD1 stablecoin as part of this collaboration. The stablecoin currently has a market capitalization of $3.27 billion. The company is advocating USD1 as a global settlement asset, which would be a key factor in cross-border transactions and payments.

The upcoming launch of the RWA products of World Liberty Financial is one of the most promising initiatives. The products will use USD1 as collateral to access the institutional investment market. The strategic plan will furthermore open up new opportunities to investors, expanding the USD1 use cases beyond those of a stablecoin.

Earlier this year, a World Liberty affiliate signed an agreement with Pakistan to explore potential uses of USD1 in remittances and payments. Moreover, the firm is taking steps to establish its own charter of trust bank to further enhance the adoption of USD1.

The company is also in the process of launching a World Liberty Financial debit card. The card would enable users to transact their USD1 stablecoins in their day-to-day transactions. Although this offering is still in its initial stages, it is likely to make USD1 more applicable to everyday life.

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