Former President Donald Trump announced the launch of World Liberty Financial’s (WLFI) whitelisting process on September 30 and reiterated his plan to “make America great again” using crypto.
To qualify for early access from WLFI, users must undergo a know-your-customer (KYC) process to be whitelisted. The platform’s website states that there are no plans to launch a native token, and the whitelisting does not mean there will be a token offering in any jurisdiction.
However, it also clarified that “if and when” a token is launched, it will be available to users who have completed the KYC process.
The whitelisting process is open to accredited US investors and all non-US persons. US-based retail investors will not be able to participate in the process for the time being due to the regulatory landscape in the country.
The WLFI team attributed the restriction to “outdated policies and regulations in the US” and said it is working to reverse it.
The KYC process involves notifying a wallet, sending a scan of a government-issued ID, and a liveness check in a camera. In addition, US users must also prove that they are accredited investors.
WLFI did not disclose how long it would take to process the whitelist requests.
According to DEX Screener, there are three fake versions of the WLFI token have been created in the hours since the whitelist was announced.
Leveraging US-pegged stablecoins
WLFI was founded by Donald Trump’s sons Eric Trump and Donald Trump Jr., with the former US president backing their venture into DeFi.
In a series of posts on September 4, WLFI said it is partnering with leading money market protocol Aave and clarified that its primary purpose is to ensure the US dollar maintains its dominance in the global financial system through stablecoins.
Recently, WLFI made a series of announcements about its advisors. The two newest additions to the team are Matthew MorganCEO of blockchain gaming platform Mixie AI, and Ryan Fangfounder of Tomo Wallet and co-founder of blockchain service provider Ankr.
Mentioned in this article
Gino Matos
Gino Matos is a law graduate and a seasoned journalist with six years of experience in the crypto industry. His expertise focuses primarily on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).
Assad Jafri
A passionate journalist since the 2011 Arab Spring in Yemen, AJ has honed his skills globally for more than a decade. Specialized in financial journalism, he now focuses on crypto reporting.