World Liberty Financial (WLFI), the Trump family’s cryptocurrency business, is not slowing down on ambition. This year, they are moving beyond the hype around crypto tokens and stablecoins to target old-school business lines. Zak Vitkoff, the company’s CEO, announced at the major crypto conference Token 2049 that investors will soon be able to buy tokenized real-world assets, including oil, gas, cotton, timber, and more.
In other words, instead of lugging around heavy bags of oil or pallets of lumber, investors will simply store those assets digitally on the blockchain. It is the perfect mix of hype, marketing, and convenience for crypto investors who have decided to finally invest in reality.
WLFI has already launched the USD1 stablecoin, pegged to the US dollar and backed by short-term US bonds. This “cryptodollar” has become the fifth-largest stablecoin in the world, with a capitalization of about $2.7 billion, and WLFI is preparing to issue a debit card that would allow users to convert crypto assets into everyday spending so that, for example, you can pay at the gas station not with BTC, but with tokenized gas.
It looks like the Trumps are not merely dabbling in cryptocurrencies but they aim to bring real-world businesses onto the blockchain to demonstrate that the world of digital assets is not just about abstractions and Bitcoins, but about tangible goods, now in a glossy new format.
