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World Liberty Financial Sees Strong Interest in WLFI as Treasury Asset: Report
A recent report has revealed that World Liberty Financial is experiencing robust interest from public companies looking to hold its native WLFI token as a treasury asset. This significant demand has been sparked by the company’s ambitious plans to reach USD1 growth.
According to Co-founder Zak Folkman, several public vehicles have expressed their desire to utilize WLFI in their treasuries. His statement was made during his address at the Permissionless conference in New York, where he also announced the release of a new app for World Liberty Financial.
The trend of using cryptocurrencies as corporate reserves has gained popularity following Strategy’s success in this regard. Recently, Strategy acquired 245 BTC for approximately $26 million, bringing their total holdings to an impressive 592,345 BTC. Other companies have followed suit, including Metaplanet, a Japanese firm that has bolstered its stash with a massive $133 million purchase, ultimately amassing a holding of 12,345 BTC.
Moreover, Folkman commended Strategy’s Executive Chairman Michael Saylor for his continued advocacy in employing cryptocurrencies as corporate reserves. He also emphasized World Liberty Financial’s strong relationship with the Bitcoin enthusiast. The increased interest follows the passage of the GENIUS Act by the Senate, which laid out a comprehensive regulatory framework for stablecoin issuers within the United States.
While Tether’s USDT remains the dominant force in the sector with approximately $156.8 billion in circulation, USD1, launched on DWF Liquid Markets earlier this month, saw its valuation increase significantly in May due to MGX, an Abu Dhabi-based investment firm, announcing it would utilize the asset for settling a $2 billion minority stake purchase in Binance.
Furthermore, World Liberty Financial has recently announced plans to make WLFI tradable. Currently, WLFI allows holders to participate in voting and submit proposals within the project’s ecosystem; however, the token is not yet transferable.
Source: cryptopotato.com
