What's up, my lovely people! Get ready because the crypto world keeps surprising us, and now I bring you some juicy gossip that has to do with none other than the Trump family! 🤑 It turns out that World Liberty Financial Inc., a decentralized financial platform connected to the Trumps, is causing quite a stir!
Its co-founder, the guy Zak Folkman, dropped the bomb at a cryptocurrency conference in New York this Wednesday, June 25. He said that there are a ton of public companies interested in using their token, the USD1, as if it were a treasure! And to top it off, they also announced the launch of World Liberty's new financial application. The party is on! 🎉📱
Folkman is betting heavily on the USD1
This guy, Zak Folkman, doesn't mess around. He's convinced that USD1 will become the largest stablecoin in the market by capitalization! 🤯 This comes after seeing the success of companies like Strategy, Michael Saylor's, which has billions in Bitcoin and a market capitalization that is impressive.
Folkman says that many companies are admiring Michael Saylor's boldness and achievements, especially how he has advised companies to hold their reserves in cryptocurrencies. And watch out, there are already some following the advice, such as Goodfood Market Corp., Semler Scientific Inc., and, of course, the one and only Trump Media & Technology Group Corp. They are all getting into crypto! 🚀
But here comes the interesting part: companies are changing their tune. Instead of just buying Bitcoin, they are now using other tokens! For example, Upexi put 100 million dollars into Solana last week, and Sharplink Inc. has a huge amount of Ether, 425 million dollars!
Currently, World Liberty's USD1 is valued at about 2.1 billion dollars. Sure, it's still far from the champion, Tether's USDT, which has about 156.8 billion dollars circulating! But Folkman is confident that they have already fixed all the obstacles and that it's just a matter of time before USD1 surpasses the others and becomes the largest stablecoin. He says we'll see the magic in the coming months! ✨
And things get even cooler with the Genesis Law, which is an important law in the United States for stablecoins. This has made digital assets pegged to the dollar even more attractive to investors. It's like they got the green light! 🚦
Financial technology companies are joining the stablecoin craze
In addition to public companies, financial technology (fintech) companies are also riding this wave and want to launch their own stablecoins, following in the footsteps of World Liberty Financial. This is a clear sign that things are getting serious! 🌊
For example, Fiserv has already announced that it plans to launch its own stablecoin, the FIUSD, and will integrate it into its banking and payments platform by the end of the year. This is big news! And all this comes after the U.S. Senate approved a historic law on stablecoins, which experts say is a turning point for the crypto market. Finally, a bit of clarity in regulation! ✅
Thanks to this, Circle's shares (the ones that issue the second largest stablecoin) rose by 15%, and those of Fiserv and PayPal also jumped significantly.
These stablecoins, which are tied to the dollar or other currencies, are a hit because they help protect against the wild ups and downs of cryptocurrencies. And now, not only financial technology companies but also traditional banks are using them to make international payments faster and to give more people access to digital finance!
TD Cowen analysts say that Fiserv's move is a sign that they are tough innovators and know how to connect old payment systems with the new ones. So, folks, the future of finance is getting spicy with these stablecoins! $TRUMP
