World Liberty Financial has officially launched this week, spearheaded by Donald Trump, who aspires to be “the president of cryptos,” alongside his sons. This decentralized finance (DeFi) initiative is known as “World Liberty Financial,” although details about the specific services it will provide remain somewhat ambiguous. However, it has been confirmed that the project will feature its own cryptocurrency, WLFI, and will operate on the Ethereum (ETH) blockchain.
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Based on the code from Dough Finance, World Liberty Financial is expected to function as a lending and borrowing platform, although further specifics are scarce on the website. A footnote clarifies the limitations:
“Additional information about World Liberty Financial will only be accessible to individuals who have pre-qualified by completing a KYC (Know Your Customer) verification process.”
Currently, registration on the platform is limited to affluent Americans. While users can connect their wallets, only accredited investors in the U.S. can open accounts. Under SEC regulations, these investors must meet significant income criteria.
To qualify, they need to demonstrate assets of at least $1 million (excluding their primary residence) and an annual income of at least $200,000 (or $300,000 combined with a spouse). Additionally, they must show that their income is likely to remain at this level for the upcoming year.
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Outside the United States, no income requirements appear to be imposed. This is particularly noteworthy, considering that a presidential candidate has made domestic preferences a focal point of his campaign. World Liberty Financial attributes these restrictions to local regulatory frameworks:
“Due to outdated policies and regulations in the United States, access is limited to accredited investors. We are advocating for changes.”
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Despite the constraints, Donald Trump has celebrated the project’s launch, promising to “Make America Great Again.”
