Stablecoin Checkup: Trump-Backed Company Plans To Launch App, Audit

A big name in crypto is about to get a closer look. US Liberty Financial (WLF), the firm tied to US President Donald Trump, will release its first audit for the USD1 stablecoin in just days.

The token hit over $2 billion in market cap since its March debut. And that’s not all. WLF is also rolling out a new mobile app for regular investors.

Audit To Reveal Reserve Details

According to reports, the audit will spell out what backs every USD1 token. WLF says the stablecoin is covered by US dollar deposits, cash equivalents and US Treasuries. BitGo holds those assets in custody.

Once the audit hits, WLF plans to publish monthly reserve updates. That level of transparency could help win over big players and everyday users alike.

Zak Folkman, the co-founder of U.S. President Donald Trump’s cryptocurrency platform World Liberty Financial, said on Wednesday that the company will issue an audit of its stablecoin “within days” and that it planned a new app. https://t.co/kTZVLB7n7O

— Reuters Legal (@ReutersLegal) June 26, 2025

Mobile App Aims At Everyday Investors

Based on reports, the upcoming app will make it easier for people to buy, hold and send USD1. It looks to simplify on-ramps and off-ramps so that someone new to crypto won’t feel lost.

WLF co-founder Zak Folkman shared the news on June 25 at the Permissionless conference in Brooklyn. He said the app will come with clear financial data, showing what funds back each token.

WLF also hinted that WLFI, its governance token, could soon hit exchanges. WLFI has been non-tradable so far and lets holders vote on changes to the USD1 protocol.

Folkman teased that, within weeks, holders “will be very, very happy.” If WLFI starts trading, it could bring new cash into the project—but also fresh price swings.

Reports disclose that the Trump family cut its WLF stake from 60% to 40% in June, pocketing about $130 million. In total, that reduction brought in roughly $190 million for the family business.

Lawmakers and ethics watchdogs have pointed to potential conflicts, given that WLF’s stablecoin operations moved ahead as crypto rules were being eased.

USD1 has already found big users. In March, MGX, a firm in the UAE, invested $2 billion in Binance using USD1 tokens. Earlier in June, WLF ran a $4 million USD1 airdrop that reached over 85,000 wallets.

The key will be how the audit actually reads. Will the numbers match WLF’s claims? Then there’s the app’s rollout and whether it draws a crowd. Finally, a WLFI listing could shake up trading desks.

If everything lines up, USD1 could sit alongside the top stablecoins by the end of the year. But any surprises in the audit or a rocky app launch could slow that momentum.

Featured image from Pexels, chart from TradingView