Trump’s Crypto Venture Eyes Expansion with Tokenized Assets and Debit Cards

SINGAPORE — World Liberty Financial (WLF), the crypto venture associated with the Trump family, is expanding its product line, executives announced at Token2049 in Singapore. The firm plans to launch a debit card and explore tokenized real-world commodities, signaling a deepening foray into the digital asset space.

CEO Zach Witkoff, alongside co-founder Donald Trump Jr., unveiled the company’s strategic initiatives on Wednesday. The proposed debit card aims to bridge the gap between cryptocurrencies and conventional spending, enabling users to seamlessly transact with their digital assets in everyday commerce.

“We’ll be rolling out a pilot program here in the next quarter, with a full launch anticipated either in Q4 of this year or Q1 of 2026,” Witkoff stated. Witkoff’s lineage adds another layer of intrigue; he is the son of Steve Witkoff, who previously served as U.S. Special Envoy to the Middle East under the Trump administration.

While details about a consumer-facing mobile application remain under wraps, the company is actively investigating the tokenization of commodities. This strategic move could potentially disrupt traditional commodity markets by introducing fractional ownership and enhanced liquidity through blockchain technology.

“We’re actively working on the tokenization of commodities,” Witkoff confirmed. “I think commodities are a really interesting area for us, whether it be oil, gas, things like cotton, timber, all of those things, frankly, should be traded on chain.” This vision aligns with the broader trend of bringing real-world assets (RWAs) onto the blockchain, a trend gaining traction across the DeFi landscape.

World Liberty Financial operates as a decentralized finance (DeFi) protocol and cryptocurrency company. Its proprietary token, WLFI, commenced public trading in September, adding another dimension to its digital asset ecosystem.

Furthermore, WLF has introduced USD1, a stablecoin purportedly pegged to the U.S. dollar and backed by short-term U.S. government treasuries. Stablecoins play a critical role in the crypto ecosystem, providing stability and facilitating transactions between volatile cryptocurrencies and fiat currencies.

The USD1 stablecoin has rapidly ascended to become a significant player, reportedly ranking among the top five stablecoins globally, with a market capitalization nearing $2.7 billion. However, independent analysis is needed to verify the accuracy of the market cap. The rapid growth has taken place in the context of President Trump’s more accommodating stance toward the crypto industry, including supportive policies and the inclusion of crypto advocates in his administration.

Bitcoin’s price has rallied significantly, fueled by positive investor sentiment surrounding President Trump’s re-election prospects and a perceived shift towards a more crypto-friendly regulatory environment in the United States. However, this correlation must be interpreted cautiously, as numerous macroeconomic and market-specific factors also influence Bitcoin’s price dynamics.

Beyond World Liberty Financial, Trump’s involvement in the crypto space extends to his own meme coin, $TRUMP. These ventures have attracted criticism from some quarters, with allegations of potential conflicts of interest raised by opposition lawmakers demanding thorough investigations. Regulatory scrutiny is intensifying regarding the intersection of political influence and the digital asset market.

Trump Jr. addressed some of these concerns, emphasizing that WLF operates independently of any political agenda. The company aims to align its interests with broader national objectives.

“We’re flying to every single corner of this globe, convincing people to onboard to USD1 which, in effect, convinces those people to go buy U.S. Treasuries, and it’s great for the U.S. dollar,” said Witkoff, highlighting the potential impact of USD1 on bolstering demand for U.S. government debt.

Looking ahead, the company will expand the USD1 stablecoin’s availability by launching it on the Aptos blockchain network. Aptos (APT) is a relatively new layer-1 blockchain that has attracted significant VC funding, but its adoption and long-term sustainability remain to be seen. The new launch opens an ecosystem for USD1 outside of its current locations.