World Liberty Financial, a cryptocurrency company linked to the family of U.S. President Donald Trump, has formed a strategic partnership with Spacecoin, a report said on Jan. 22 local time.
The partnership focuses on linking decentralised finance (DeFi) and satellite-based internet to provide financial services in areas not reached by traditional financial networks.
The two companies said they plan to pursue various forms of cooperation, including token swaps and future work on payments, settlement and network coordination.
Spacecoin recently launched 3 satellites into low Earth orbit as it pushes to build a decentralised physical infrastructure network. Its goal is to support access to the internet without relying on governments or telecom companies. Spacecoin founder Tae Oh (태 오) said, "True digital freedom must include access to strong and fair financial services."
World Liberty Financial launched the dollar-pegged stablecoin USD1 last year. USD1 has now grown to $3.2 billion in size.
Chi-gyu Hwang
delight@d-today.co.kr