World Liberty Financial (WLFI), backed by the family of U.S. President Donald Trump, plans to expand payments for its stablecoin USD1 to major online companies.
Cointelegraph reported on Oct. 7 that WLFI set out its USD1 payment expansion strategy and an integration timeline at a Token2049 panel in Singapore.
The focus is expanding the payment network. Bam Azizi, co-founder and CEO of crypto payments platform Mesh, said USD1 holders will be able to use the stablecoin across its merchant network. Integration is set to begin within this quarter.
WLFI also laid out plans to broaden use beyond its own application to external online operators. Jack Folkman, a WLFI co-founder, said it is already pushing a plan to apply the same technology to some large Web2 companies. That would expand USD1 from a simple holding into a payment method.
The announcement also ties to potential changes in USD1's distribution structure. USD1 is currently issued by BitGo. Its reserves consist of cash, U.S. Treasury money market funds and other cash-equivalent assets, and it is designed to maintain a value of $1. CoinGecko data showed USD1 had a market capitalisation of $4.45 billion on the day.
WLFI is also pursuing a plan to bring USD1 issuance in-house. In August, the U.S. Office of the Comptroller of the Currency (OCC) granted conditional approval for WLFI to establish a national trust bank aimed at issuing a dollar-based stablecoin and providing digital asset custody. Jack Witkoff, WLFI's CEO, said the trust approval would allow it to take on the role of issuer.
Regulatory controversy is also continuing. Senator Elizabeth Warren criticised the relationship between the Trump family and WLFI as a conflict of interest. Warren and other senators responded by introducing the bill titled the End Banking Corruption Act for Presidents. The OCC, however, said leaders and staff acted in line with legal obligations and ethical standards during the review process.
Against that backdrop, WLFI appears to be seeking to widen USD1 distribution by pushing both expanded payment use and internalisation of the issuance structure. If integration with the Mesh merchant network begins this quarter as planned, whether USD1 sees broader real-world payment use is expected to face its first test.