World Liberty Financial (WLF), the Trump-linked company behind the fast-rising USD1 stablecoin, is preparing to release its first audit report and launch a mobile application targeting retail crypto users.
The updates were revealed by WLF co-founder Zak Folkman during an interview at the Permissionless conference in Brooklyn, according to Reuters.
The audit, slated for release within days, is expected to detail the financial reserves backing USD1 — a stablecoin that has surged to a $2.2 billion market capitalization since its debut in March. According to Folkman, USD1 is backed by U.S. dollar deposits, cash equivalents, and U.S. Treasuries. The asset operates across Ethereum, BNB Chain, and TRON, with BitGo serving as the designated custodian.
Folkman emphasized that WLF would begin releasing monthly reserve reports as part of its commitment to financial transparency.
“We’re going to have very transparent auditing from a financial level,”
he said.
In addition to the audit, WLF is developing a new mobile app designed to simplify crypto usage for mainstream users. The move signals a shift toward greater accessibility and user engagement as the firm eyes broader adoption.
Folkman also hinted at potential changes to WLFI, the platform’s governance token. Currently unlisted and non-tradable, WLFI is used for community voting on protocol decisions. However, Folkman suggested that a major development could be imminent:
“If you pay attention over the next couple of weeks, I think everyone’s going to be very, very happy.”
Despite growing interest and market penetration, WLF and its products remain controversial. Ethics watchdogs have raised concerns over the timing of Donald Trump’s involvement in the crypto sector, particularly as regulatory scrutiny appears to ease under his influence.
Still, USD1 continues to attract attention from institutional players. In May, Binance listed WLFi USD1 stablecoin, marking a significant development in the stablecoin market. More recently, a $4 million airdrop in early June distributed USD1 to over 85,000 wallets, boosting awareness and trust in the coin’s infrastructure.
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