PANews reported on February 12th, citing CoinDesk, that Zak Folkman, co-founder of World Liberty Financial, a crypto project linked to the Trump family, revealed at the Consensus Hong Kong conference that the project plans to launch a forex platform called World Swap as part of its USD1 stablecoin ecosystem. Folkman stated that World Swap aims to simplify cross-border transfers, challenging the high fees of 2% to 10% per transaction charged by traditional remittance services, allowing users to send and receive digital dollars in a manner similar to mainstream payment applications.

Folkman stated that further details will be announced later this month at an event at Mar-a-Lago. In January, AMG Software Solutions, the Puerto Rican company that owns the intellectual property rights to World Swap, was found to have registered trademarks related to World Swap.