A fund based in the United Arab Emirates (UAE) has announced a significant investment of $100 million in the Trump-backed decentralized finance (DeFi) platform World Liberty Financial, and its native token WLFI.
The investment was confirmed in a joint statement by Aqua 1 and World Liberty Financial, highlighting the collaboration as a step towards developing a blockchain financial ecosystem and integrating stablecoins.
World Liberty Financial Partners With Aqua 1
Zak Folkman, co-founder of World Liberty Financial, expressed enthusiasm about the partnership, stating, “We’re excited to work hand-in-hand with the team at Aqua 1.”
This investment positions Aqua 1 among the largest stakeholders in the Trump family’s cryptocurrency project. It is further strengthened by the backing of crypto billionaire Justin Sun, who is the top investor in the company with a substantial $75 million stake.
This marks the second investment from a UAE-based firm in World Liberty Financial within a short span; earlier this year, Abu Dhabi’s MGX used World Liberty Financial’s USD1 stablecoin to facilitate a $2 billion investment in Binance.
David Lee, a founding partner at Aqua 1, stated that Aqua 1 and the decentralized platform will collaborate to “identify and nurture promising blockchain projects.”
World Liberty Financial also plans to support the Aqua Fund, an investment vehicle focused on enhancing the digital economy in the Middle East. In addition, Aqua 1 will aid World Liberty Financial in expanding its reach into South America, Europe, Asia, and emerging markets.
Both companies are also set to develop “BlockRock,” a platform aimed at tokenizing real-world assets (RWAs) to bridge traditional investments like real estate with the Web3 ecosystem.
New App Launch Planned
In tandem with these initiatives, World Liberty Financial is preparing to release an audit report of its stablecoin, USD1, within days. Folkman, speaking at the Permissionless conference in Brooklyn, New York, also mentioned that the platform’s WLFI token may soon become tradable.
Launched two months prior to the US presidential election, WLFI has already generated substantial revenue for Trump’s family business through the sale of governance tokens. These tokens grant holders the ability to vote on project changes and influence its strategic direction.
While WLFI is currently not tradable, Folkman hinted at forthcoming updates that users should watch for in the coming weeks. He also revealed that the company’s stablecoin has received its first attestation report, which will be available on the company’s website.
To further facilitate user engagement, Folkman announced the upcoming launch of a new app designed to simplify cryptocurrency use for everyday investors.
As of press time, the official TRUMP memecoin trades at $8.96, recording a major 30% drop in the monthly time frame.
Featured image from DALL-E, chart from TradingView.com
