Trump-affiliated coin World Liberty Financial (WLFI) started to spike again after global financial services provider Apex Group decided to put WLFI’s stablecoin USD1 to the test. The WLFI token gained 10%, overhauling BTC and ETH, which were down by 0.5%.
Global financial services provider Apex Group, which oversees $3.5 trillion in assets, partnered with WLFI, the crypto company affiliated with U.S. President Donald Trump. The duo collaborated with the intention of piloting the use of a stablecoin in traditional fund operations.
WLFI to test USD 1 in payments for subscriptions
After announcing this partnership at the World Liberty Forum at Mar-a-Lago on Wednesday, Apex mentioned in a press release that it will test the USD1 payment rail for subscriptions, redemptions, and distributions across its tokenized fund ecosystem.
The financial service provider stated that the main idea of testing the USD1 was to improve the settlement speed and reduce operational costs for institutional clients. Apex provides services, from operations to administrative, to hedge funds, pension funds, banks, and family offices.
World Liberty Financial co-founder Zak Folkman positioned USD1 as more than a retail stablecoin. In his view it is “an institutional-grade dollar” designed for real-world settlement and cross-border use.
Senator urges passing the bill quicker
While the cofounder positioned USD1 as more than just a stablecoin, Senator Bernie Moreno (R-Ohio) insisted on the urgency of passing the market structure bill, stating that the clear rules in the bill will be the main catalyst that would drive the U.S. in financial innovation. He mentioned that the entire financial landscape all over the world will look much different in 5 years from what it looked like during the past 50 years. “This will happen somewhere,” he said, but he wants it to happen somewhere in America, not somewhere else.
Apex is piloting this project when the demand for stablecoins has gone up. USD1 recorded more than $1.9 billion in net flow within just the last 30 days. Meanwhile, Tether (USDT) and Circle’s stablecoin USDC were profusely leaking funds.
When looking at the chart above, it shows investors are moving their stablecoin holdings from USDT and USDC, the two top stablecoins, into USD1.
