The WLFI supported by the Trump family has teamed up with Mesh to launch USD1 online payments this quarter

Executives from World Liberty Financial (WLFI), a cryptocurrency project supported by the Trump family, revealed at the stablecoin-themed roundtable forum during the Token2049 conference in Singapore that they plan to introduce USD1 stablecoin payments to large online merchants. WLFI CEO Zach Witkoff attended alongside co-founder Zak Folkman and Bam Azizi, co-founder and CEO of payment infrastructure provider Mesh. Azizi announced that Mesh has partnered with WLFI, allowing USD1 holders to spend the stablecoin within Mesh's merchant network, with related features set to launch this quarter.

Folkman stated that in addition to World Liberty's own application, the team plans to promote the same technology to some of the largest Web2 enterprises in the market. USD1 is issued by BitGo, with reserves including cash, U.S. government money market funds, and other cash equivalents, designed to maintain a 1 dollar peg. According to CoinGecko data, its market capitalization is approximately 4.45 billion dollars.

In August, the Office of the Comptroller of the Currency (OCC) granted conditional approval for WLFI to establish a national trust bank, which is intended for issuing dollar-backed stablecoins and custodial services for digital assets. Witkoff stated that this move will enable WLFI to assume the issuance responsibilities of USD1, which is currently managed by BitGo.