Crypto firm World Liberty Financial, linked to US President Donald J. Trump’s family has announced a partnership with Spacecoin, a decentralized infrastructure network. They plan to bridge an intersection with decentralized finance (DeFi) on a satellite-powered internet.
The alliance includes a token swap linked to their projects financially and aligns the platform for future collaborations for payments and settlements, countering the limitations of traditional finances.
The notion behind the merge
Spacecoin recently launched three satellites into low-earth orbit to build a decentralized physical infrastructure network (DePIN). Through this approach, Spacecoin aims to develop a permissionless internet infrastructure that will be maintained by a growing satellite constellation, with the goal of achieving rapid progress from concept to operational infrastructure within three years.
The vision is to give users in regions with weak or no broadband coverage a new way to get online without governments or telecom monopolies, providing an infrastructure that can compete on a global scale, and World Liberty Financial enables the same.
The official statement also added their perspective on how this is only half the battle won. “True digital freedom also requires access to robust, fair and open financial services,” said Spacecoin founder Tae Oh in the announcement.
The intersection of DeFi and space
What seems like a simple business deal is a very strategic partnership. Two high-potential organizations, the decentralized satellite internet connectivity and stablecoin-powered financial services, will create a real-world utility in underserved regions.
While they open up underexplored regions, the credibility and user base of WLFI’s USD1 stablecoin will increase.
WLFI’s USD1 stablecoin was launched last year and has since grown to a $3.2 billion market capitalization digital asset. They also launched the World Liberty Market to increase its real-world use cases with lending and borrowing services.
