The crypto project, World Liberty Financial, has ties with U.S. President Donald Trump’s family and has entered into a partnership with a satellite startup, Spacecoin, aimed at exploring the operation of decentralized finance over satellite-powered internet. The agreement focuses on a token swap, which is designed to bridge blockchain payment systems with satellite-enabled connectivity.
Spacecoin announced its partnership through a blog post on January 22. The post mentions that Spacecoin has launched three satellites into low-Earth orbit as part of a decentralized physical infrastructure network to enable permissionless internet connection in underprivileged and distant regions.
Then, World Liberty Financial collaborated to supply the network with tools for sending, receiving, and handling payments, enabling financial access to help with internet connectivity. Hence, the collaboration is primarily aimed at providing financial services to populations currently beyond the reach of traditional banking systems.
USD1 Positioned as the Core Payment Layer
In the post, Zak Folkman, co-founder of World Liberty Financial, said, “USD1 is intended to support payment and settlement activity in the real world, and partnerships like this are focused on exploring payments, settlement, and coordination in environments where traditional financial rails may be limited.”
Which confirms that World Liberty Financial is going to place USD1 in focus for this collaboration, as this stablecoin was launched last year. It holds sixth position in the stablecoin ranking on CoinMarketCap with a market cap of $3.3 billion, and to expand its uses, World Liberty Financial launched World Liberty Markets, a platform for crypto lending and borrowing services.
As this strategic Partnership comes after two weeks, World Liberty Financial’s World Liberty Trust Company has applied with the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank, World Liberty Trust Company, that would be chartered to issue, redeem, custody, and manage the USD1 stablecoin under federal oversight.
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