UAE Investment Bolsters Trump-Backed DeFi Platform with $100 Million

A fund from the United Arab Emirates has announced a notable investment of $100 million into World Liberty Financial, a decentralized finance platform supported by Trump, along with its native token WLFI. This partnership was confirmed through a collaboration between Aqua 1 and World Liberty Financial, signaling a move toward establishing a comprehensive blockchain financial system and incorporating stablecoins. Zak Folkman, co-founder of World Liberty Financial, expressed enthusiasm about their partnership with Aqua 1. This investment places Aqua 1 among the major stakeholders in the Trump family’s crypto project, further backed by billionaire Justin Sun, who holds a $75 million stake. Earlier this year, a UAE-based firm, MGX from Abu Dhabi, used World Liberty Financial’s USD1 stablecoin in a $2 billion investment in Binance, marking the second UAE investment in this platform. David Lee from Aqua 1 highlighted their goal to identify and foster promising blockchain initiatives. World Liberty Financial also intends to support the Aqua Fund, which focuses on strengthening the digital economy in the Middle East, and aims to expand into South America, Europe, Asia, and other emerging markets. Both entities are working on 'BlockRock', a project to tokenize real-world assets like real estate, blending traditional investments with the Web3 ecosystem. In addition, World Liberty Financial plans to release an audit report on its USD1 stablecoin soon. Folkman at the Permissionless conference indicated that the WLFI token might soon be tradable, having already generated revenue through sale of governance tokens and nearing a potential launch. Folkman also announced a new app for easier crypto usage targeting everyday investors. Meanwhile, the TRUMP memecoin is trading at $8.96, down 30% over the past month.