World Liberty Financial plans USD1 audit and new app launch

World Liberty Financial, the cryptography company affiliated with Trump behind the stablecoin USD1, is preparing to publish its first audit and launch a mobile application intended for retail users.

The update was shared by the WLF co-founder, Zak Folkman, on June 25, in an interview with blockworks at the conference without authorization in Brooklyn, as reported by Reuters.

The audit, which should be completed in a few days, will provide details on the reserves supporting USD1, which has increased to a market capitalization of 2.2 billion dollars since its launch in March. Stablecoin is supported by deposits in US dollars, cash equivalents and American treasury bills.

He executes Ethereum (Ethn), BNB channel (Bnb), and Tron (Trx), with Bitgo acting as a guard. Folkman said WLF will start to publish monthly reserve reports in the future.

WLF is also preparing to deploy a mobile application designed to make cryptography simpler for everyday investors. “We are going to have a very transparent audit from a financial level,” said Folkman.

He also suggested that WLFI, the non-traditional governance token of the platform, could soon become a negotiable. “If you pay attention in the next two weeks, I think everyone is going to be very, very happy,” he added. WLFI currently allows holders to vote on changes in the protocol but is not listed on exchanges.

Although WLFI and USD1 reported hundreds of millions of dollars for Trump’s family businessThey were also criticized for legislators and criticism. Trump’s cryptocurrency companies have been questioned by ethical childcare dogs, especially since its administration returns regulatory surveillance in industry.

The Trump family would have pocketed more than $ 130 million after having reduced their WLF property by 60% to 40% in June, a decision that reportedly reported about $ 190 million.

Despite criticism, adoption continues. Stablecoin has gained ground among institutional users. USD1 was used in a billion dollars investment In Binance by MGX, a company based in water in March.

Earlier in June, USD $ 4 million pub has reached more than 85,000 portfolios, strengthening awareness and confidence in the infrastructure of Stablecoin. Thanks to new tools, increasing demand and an expanding user base, WLF seems to establish USD1 as a major actor in the Stablescoin market.