Eight major banks in South Korea are preparing to set up a joint venture to issue a Korean won stablecoin

World Liberty Financial , the cryptocurrency venture affiliated with US president Donald Trump, is preparing to release a third-party audit of its stablecoin and roll out a new mobile app in the coming days, co-founder Zak Folkman said on Wednesday. Speaking at the Permissionless conference hosted by Blockworks in Brooklyn, Folkman reportedly said the audit, completed by an independent accounting firm, will be published soon . The move comes as the firm tries to bolster trust in its financial infrastructure while facing intense political scrutiny. Folkman also teased the possibility of future changes to the platform’s governance token, WLFI, which currently cannot be traded. “I don’t want to give away too much, but if you pay attention over the next couple of weeks, I think everyone is going to be very, very happy,” he told the audience when asked about potential token liquidity. @zakfolkman —co-founder of @worldlibertyfi is talking about $WLFI 🔥 “Yeah, so, first things first. I don’t want to give away too much. But if you pay attention over the next couple weeks, I think everyone who wants to know when World Liberty is going to be very, very happy.… pic.twitter.com/L0tpduqpWB — Crypto Peak (@cryptopeakx) June 26, 2025 As Trump Earns Millions From Tokens, Ethics Groups Sound Alarm on Industry Influence Launched earlier this year, WLFI has already generated hundreds of millions of dollars in revenue for Trump’s family business. The token grants holders voting rights on network proposals and roadmap decisions, but not ownership stakes. Earlier this month, public disclosures revealed that Trump personally received $57.35m from WLFI token sales and still holds 15.75b tokens in the venture. The project has drawn sharp criticism from Democratic lawmakers and ethics watchdogs, who argue it raises serious concerns over conflicts of interest. They point to the timing, as Trump has supported deregulatory measures in crypto while benefiting financially from the sector. In January, the Trump Organization said the former president’s business interests are managed through a trust overseen by his children. WLF Bets on Simplicity to Drive Mainstream Adoption Folkman said the company’s upcoming app is aimed at making digital assets more accessible to mainstream users. The platform will integrate stablecoin payments and wallet functionality. It is designed with a simple interface to encourage wider adoption. Meanwhile, World Liberty’s rapid fundraising, fueled by token sales and strong brand visibility, has made it a significant player. This rise comes during a politically sensitive year for the crypto sector. However, questions persist. Observers are unsure how much transparency and oversight the firm is prepared to accept.

Author: Dio Casares Compiled by: TechFlow Over a period of nearly five years, Strategy spent $40.8 billion, equivalent to the GDP of Iceland, to acquire more than 580,000 bitcoins. This

Shares of Kakaopay dropped sharply after volatile trading as regulators warn of risks tied to widespread stablecoin adoption. Shares of South Korean digital payments firm Kakaopay tumbled as much as 17% on June 27 after trading resumed Thursday, following a…